Jefferies Suggests Buying Nike (NKE) Shares Aggressively When...

June 18, 2012 8:08 AM EDT Send to a Friend
Get Alerts NKE Hot Sheet
Price: $90.90 +0.59%

Rating Summary:
    23 Buy, 6 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 24 | Down: 28 | New: 14
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Jefferies maintains a 'Buy' on Nike (NYSE: NKE) price target of $130.00.

Analyst, Taposh Bari, said, "We see NKE as one of the most attractive long-term stories in our universe but with increased choppiness this summer as investors digest decelerating sales and macro/FX headwinds against an improving GM% backdrop. A normalizing sales trend is anticipated but could be interpreted as an athletic cycle correction in this type of environment. We recommend being tactical near-term and buying more aggressively once expectations realign."

Bari also sees shares of FootLocker (NYSE: FL), Finish Line (Nasdaq: FINL), Under Armour (NYSE: UA) and Lululemom (Nasdaq: LULU) being driven by Nike, so, if there is any decelerating in sales trajectory, shares of these stocks will probably decline in sympathy. Overall, despite an unsettling market, Jefferies doesn't see a sales issue at Nike.

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 $101.75 yesterday.


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