UBS Reiterates Neutral Rating on Nike (NKE) on Expected Pace of Earnings Recovery

UBS analyst Jay Sole reiterated a Neutral rating and $34.00 price target on Nike (NYSE: NKE).

The analyst commented, "We continue to see risk Nike's turnaround will take longer than the market expects. While our meeting with Nike's new CFO was encouraging in the sense Nike has hired a leader with a strong track record, we still want to see more green shoots across the business before considering a more constructive view. The event did not change our view on the pace of Nike's earnings recovery and this is a key reason we continue to rate Nike Neutral."

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 $37.53 yesterday.

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