Citi Reiterates 'Buy' on Nike (NKE) Ahead of Q3 Earning Report
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Citi reiterates 'Buy' rating on Nike Inc (NYSE: NKE) ahead of Q3 earnings report.
Citi analyst says, "We think Nike's recent pull back creates a buying opportunity for the stock and we reiterate our Buy rating ahead of the company's Q3 earnings results on March 19 as we see this as the next positive catalyst for Nike shares. For the quarter, we expect $0.79, or 15% growth, driven by sales growth of 11% and gross margin expansion of 60bps y/y...Nike continues to take US market share and lead the top seller list in athletic footwear retail, based on our weekly store checks and NPD data."
NIKE, Inc. (NIKE) is engaged in the design, development and worldwide marketing of footwear, apparel, equipment and accessory products.
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