Under Armour Inc (NYSE:UA) has been reiterated as an Overweight at Piper Jaffray by research analyst Erinn Murphy in a recent report released today. The analyst raised the price target to $93 (from $90), which implies an upside of 9% from current levels. The increased price target comes ahead of the company’s first-quarter results and business outlook, which will be reported on April 21 before market open.

Murphy stated, “We are reiterating our Overweight rating on Under Armour following a round of store checks illustrating the accelerating momentum of the golf business since Jordan Spieth’s Masters win last weekend. Simply stated, golf is one the fastest growing categories for Under Armour and we believe it can double, while growing well in excess of the overall brand, and reach more than $400M in the next few years. To wit, UA golf search volume during the Masters increased 8.9x compared to 2015 before the Masters–well ahead of the peer average of 1.8x.”

Furthermore, “While we are not changing our estimates, we are raising our FY16 EPS multiple from 60x to 62x to reflect recent brand strength. As we approach the company’s Q1 report next week, we remain confident that underlying growth metrics are intact and see upside to sales driven in particular by footwear.”

According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Erinn Murphy has a total average return of 0.7% and a 46.2% success rate. Murphy has a 14.1% average return when recommending UA, and is ranked #2227 out of 3573 analysts.

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