Jefferies Maintains a 'Buy' on Nike (NKE); Begin Building A Position At This Price
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Price: $65.32 +1.37%
Rating Summary:
14 Buy, 10 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Rating Summary:
14 Buy, 10 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Trade NKE Now!
Jefferies maintains a 'Buy' on Nike (NYSE: NKE) price target of $100.00 (from $115.00).
Analyst, Taposh Bari, said, "NKE's 4Q was expected to be choppy but still disappointed due to: 1) weak 1Q guidance, 2) reduced FY13 guidance, 3) China deceleration, and 4) ongoing GM % challenges. That said, we attribute most of these issues to broader macro/FX challenges and see $85/share as a good time to buy a high quality company whose stock has corrected 25% in 2 months."
Lowers FY13 EPS estimate from $5.78 to $5.20.
For an analyst ratings summary and ratings history on Nike click here. For more ratings news on Nike click here.
Shares of Nike closed at $96.89 yesterday, with a 52 week range of $76.98-$114.81.
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Analyst, Taposh Bari, said, "NKE's 4Q was expected to be choppy but still disappointed due to: 1) weak 1Q guidance, 2) reduced FY13 guidance, 3) China deceleration, and 4) ongoing GM % challenges. That said, we attribute most of these issues to broader macro/FX challenges and see $85/share as a good time to buy a high quality company whose stock has corrected 25% in 2 months."
Lowers FY13 EPS estimate from $5.78 to $5.20.
For an analyst ratings summary and ratings history on Nike click here. For more ratings news on Nike click here.
Shares of Nike closed at $96.89 yesterday, with a 52 week range of $76.98-$114.81.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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