Barclays Maintains an 'Overweight' on Nike (NKE); Q3 Preview: Raising FY on Continued Strength

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

Analyst, Robert S. Drbul, said, "We remain comfortable with our EPS estimate of $1.19, which is $0.03 above consensus. We expect Nike to deliver continued double digit revenue growth, as implied by the futures increase of +13.0% reported in 2Q12. We expect revenue to increase 14.2% to $5.80 billion."

"Given our expectation for strong futures, driven by ongoing product evolution, upcoming launches and significant athletic events, combined with our expectation for sequential gross margin improvement, we are raising our FY13 EPS to $5.80 from $5.75."

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 $109.45 yesterday.

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