Jefferies Reiterates Buy on Nike (NKE) Following Earnings Report
- Indexes hit record highs as Trump rally continues
- Unusual 11 Mid-Day Movers 12/8: (COOL) (TLRD) (DRAM) Higher; (SHIP) (OHRP) (MLSS) Lower
- Lower for longer, ECB scales back asset buys
- lululemon athletica (LULU) Tops Q3 EPS by 4c; Adj.-Comps Outpaced Views
- Oil rises above $50 on renewed hopes for output cuts
Get instant alerts when news breaks on your stocks. Claim your 2-week free trial to StreetInsider Premium here.
Jefferies reiterated a Buy rating and $65.00 price target on Nike (NYSE: NKE) following the company's 1Q earnings report. Generally, the athletic footwear market is strong, but Adidas is on the rise. In basketball footwear, the market remains Nike dominant.
Analyst Randal Konik commented, "Nike is the gold standard, but Adidas is gaining ground, placing a lid on futures orders NT. Lingering FX and expense pressures create a subdued NT EPS picture. Those with a LT focus will see a best-in-class brand, an improving supply chain, an emerging China oppty, and product innovation, making Nike a core holding for those with a LT horizon."
Shares of Nike closed at $55.34 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- UBS Cuts Price Target on SecureWorks Corp. (SCWX) to $13
- Notable Mergers and Acquisitions 12/8: (CG) (BDSI) (SPLP)
- Rosenblatt Upgrades Autodesk (ADSK) to Neutral
Create E-mail Alert Related CategoriesAnalyst Comments
Related EntitiesJefferies & Co, Earnings, Randal Konik
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!