Jefferies Maintains a 'Buy' on Nike (NKE); Begin Building A Position At This Price

June 29, 2012 9:42 AM EDT
Get Alerts NKE Hot Sheet
Price: $53.45 +0.39%

Rating Summary:
    27 Buy, 11 Hold, 2 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 19 | Down: 19 | New: 13
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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.

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