UBS Maintains a 'Buy' on Nike (NKE); U.S. Sales Accelerate, But China Biggest Risk Into Q1
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Price: $65.32 --0%
Rating Summary:
14 Buy, 10 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 0 | Down: 0 | New: 0
Rating Summary:
14 Buy, 10 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 0 | Down: 0 | New: 0
Trade NKE Now!
UBS maintains a 'Buy' on Nike (NYSE: NKE) price target of $106.00 (from $99.00).
Analyst, Michael Binetti, said, "We believe emerging positive NT catalysts for Nike (accelerating ASP increases, apparel share gains, improving GM outlook) will outweigh our primary risk concern (potential for China futures to decelerate further in F1Q). Since reporting F4Q (06/28), Street F14 estimates have declined -11%. And, NKE’s stock has lagged peers & S&P by ~20pp since 06/01. We believe positive catalysts will push Street estimates higher in Near-Term, creating a favorable stock backdrop."
Bottomline: U.S. trends are accelerating, but there is risk to the growth story in China.
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 $95.45 yesterday, with a 52 week range of $80.20-$114.81.
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Analyst, Michael Binetti, said, "We believe emerging positive NT catalysts for Nike (accelerating ASP increases, apparel share gains, improving GM outlook) will outweigh our primary risk concern (potential for China futures to decelerate further in F1Q). Since reporting F4Q (06/28), Street F14 estimates have declined -11%. And, NKE’s stock has lagged peers & S&P by ~20pp since 06/01. We believe positive catalysts will push Street estimates higher in Near-Term, creating a favorable stock backdrop."
Bottomline: U.S. trends are accelerating, but there is risk to the growth story in China.
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 $95.45 yesterday, with a 52 week range of $80.20-$114.81.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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