Barclays Maintains an 'Overweight' on Nike (NKE); Poised for Another Gold

November 3, 2011 3:00 PM EDT
Get Alerts NKE Hot Sheet
Price: $53.27 -0.71%

Rating Summary:
    27 Buy, 11 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 5 | Down: 5 | New: 0
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Barclays maintains an 'Overweight' on Nike (NYSE: NKE) price target raised from $100 to $125.

Barclays analyst says, "The Summer Olympics have historically been a strong driver to the Athletic Footwear & Apparel industry, notably Nike. Specifically, Nike stock has had an impressive relative performance to the S&P in each of the last five Summer Olympic years (24.5% on average). Looking to London next year, we expect 2012 to be a similar outcome. The Olympics are expected to boost sales for the company in 2012, as we expect increased consumer demand for apparel and footwear similar to that worn by Nike-sponsored athletes."

For more ratings news on Nike click here and for the rating history of Nike click here.

Shares of Nike closed at $94.94 yesterday.

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