Jefferies Cuts Numbers on Nike (NKE) Ahead of Results
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Price: $65.29 -0.05%
Rating Summary:
14 Buy, 10 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 19 | Down: 35 | New: 12
Rating Summary:
14 Buy, 10 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 19 | Down: 35 | New: 12
Trade NKE Now!
Jefferies cut estimates and its price target on Nike (NYSE: NKE) from $130 to $115 ahead of fourth quarter results on Thursday. The firm is maintaining its Buy rating.
The firm comments, "We think a toppy sales environment, China angst and FX headwinds make NKE vulnerable ahead of Thursday's F4Q report. The stock has corrected some but still has near-term risk, in our opinion, as investors demonstrate a greater sensitivity to negative news than positive in this environment. Would use near-term weakness to accumulate given strong product innovation, geographic distribution opportunities and best-in-class business model."
Q4 EPS was cut from $1.45 to $1.37, FY12 EPS was cut from $5.00 to $4.91 and FY13 from $6.05 to $5.78.
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 $99.40 yesterday, with a 52 week range of $76.98-$114.81.
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The firm comments, "We think a toppy sales environment, China angst and FX headwinds make NKE vulnerable ahead of Thursday's F4Q report. The stock has corrected some but still has near-term risk, in our opinion, as investors demonstrate a greater sensitivity to negative news than positive in this environment. Would use near-term weakness to accumulate given strong product innovation, geographic distribution opportunities and best-in-class business model."
Q4 EPS was cut from $1.45 to $1.37, FY12 EPS was cut from $5.00 to $4.91 and FY13 from $6.05 to $5.78.
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 $99.40 yesterday, with a 52 week range of $76.98-$114.81.
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