Under Armour, Inc. (NYSE: UAA) shares rose nearly 3% intra-day on Monday after Williams Trading raised its price target on the stock to $10 from $8 while maintaining a Buy rating.

Williams Trading said it was increasingly confident that Under Armour's evolving marketing strategy would strengthen brand loyalty and resonate with consumers. The firm highlighted the company's new “click-clack” advertising campaign supporting U.S. Women's Flag Football, which it believes will build brand affinity among younger female consumers.

Despite limited clarity on the earnings call, the analyst noted signs that Under Armour is enhancing localized marketing by highlighting many of the 3,000 high school football teams outfitted by the brand across its owned retail stores. In its flagship Baltimore location, Under Armour prominently displays football helmets from local high schools, reinforcing its connection to the community.

Williams Trading said Under Armour's brand appeal appears broader in local markets such as Baltimore than at the national level. The firm expressed confidence that showcasing support for high school athletes nationwide would extend brand affinity beyond football and drive demand for new lifestyle footwear offerings, including the Sola sneaker priced at $120 and the HB-Lo sneaker priced at $100.