Nike (NKE) Expected to Show Strength Into the Holiday, Stifel Reiterates Above Consensus Estimates

Stifel analyst Jim Duffy reiterated the $110.00 price target on Nike (NYSE: NKE) noting that he is comfortable with above consensus sales and earnings estimates heading into the print.

The analyst reiterated a Buy rating stating "Momentum is continuing, led by DTC strength, 20%+ cc growth in China, and +DD contribution in all other International regions, while we expect a sequential improvement in North America (+6% vs. +4% in F1Q) to support +10.6% cc growth and +8.8% y/y reported growth vs. consensus for +7.5% y/y growth. We are bullish on gross margin, and expect upside can be reinvested in high-return digital opportunities".

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 $98.25 yesterday.

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