Wedbush Starts Nike (NKE) at Neutral

Article Related Articles (1) Stock Quotes (1) Comments (0)

After the close, Wedbush initiated coverage on Nike (NYSE: NKE) with a Neutral rating and $56 price target.

Analyst Corinna Freedman said the current valuation as fair and reflective of the company's dominate market share. She is cautious on the 2nd-half of 2013 due to tough comps and backend-weighted gross margin expectations. Near-term concerns about running comps are offset by basketball strength, the analyst also notes.

NOTE: The Neutral rating follows today's upgrade to Overweight at JPMorgan.

For an analyst ratings summary and ratings history on Nike click here. For more ratings news on Nike click here.

Shares of Nike closed up 1.15 percent to $55.22.

---

Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW

---

*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here

---

---

You May Also Be Interested In

• UPDATE: JPMorgan Cuts SodaStream (SODA) to Neutral, 'Stock No Longer Cheap'
• Maxim Group Assumes Yingli Green Energy (YGE) at Hold
• Topeka Capital Starts RDA Microelectronics (RDA) at Buy

Create E-mail Alert Related Categories

New Coverage

Related Entities

JPMorgan

Add Your Comment

Name

Subject

Body

Share on Facebook

Verification
can't see the text?
click here to refresh the image.
what's this?