UBS Boosts Price Target on Nike (NKE); Stock Could See $80 in a Year

April 22, 2013 3:59 PM EDT
Get Alerts NKE Hot Sheet
Price: $53.11 -1.01%

Rating Summary:
    27 Buy, 11 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 11 | Down: 20 | New: 54
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UBS raised its price target on Buy-rated Nike (NYSE: NKE) Monday from $63 to $68 after meetings with management renewed their confidence.

"Our recent meetings boosted our confidence that NKE can deliver on guidance for +HSD rev growth and +mid teens EPS growth over several yrs," said analyst Michael Binetti. "With GMs now expanding & our renewed confidence that NKE’s multi-faceted rev growth algorithm can drive +HSD rev growth (or better), the potential for NKE to move towards an Upside scenario w/EPS growth as high as 23% in FY14 (vs our +15% est) is becoming more probable- which could push the stock towards $80 in a year."

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 $60.92 yesterday.

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