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

April 22, 2013 3:59 PM EDT Send to a Friend
Get Alerts NKE Hot Sheet
Price: $100.33 -0.56%

Rating Summary:
    23 Buy, 8 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 20 | Down: 22 | New: 30
Trade NKE Now!
Join SI Premium – FREE
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.

Serious News for Serious Traders! Try Premium Free!

You May Also Be Interested In

Related Categories

Analyst Comments, Analyst PT Change

Related Entities


Add Your Comment