Barclays Maintains an 'Overweight' on Nike (NKE); 2Q12 Preview: On a Run Like Tebow

Barclays maintains an 'Overweight' on Nike (NYSE: NKE) price target of $125.00.

Barclays analyst says, "Nike will report 2Q12 earnings, after the close on Tuesday, December 20: Our EPS estimate of $1.00 is $0.03 above consensus. We expect revenue to increase 17.0% to $5.7 billion, which we view as highly achievable given 1Q12 futures were up 16.0%. We expect continued strength in North America, Greater China, and Emerging Markets. We assume revenue growth of 27.0% in 2Q12 for the China business, with a benefit from a potential reversal in Apparel trends, as we expect double-digit growth in China Apparel based on futures compared to a (2.7)% decline in 1Q12."

"We remain positive on the shares into the quarter and ahead of the upcoming London Olympics and European Football Championships in 2012, and see significant opportunities for upside over the next twelve months."

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 $94.08 yesterday.

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