Canaccord Genuity maintains a 'Hold' on Nike (NKE); Q3 Preview
Tweet
Share
E-mailGet Alerts NKE Hot Sheet
Price: $40.73 -1.21%
Rating Summary:
26 Buy, 28 Hold, 3 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
26 Buy, 28 Hold, 3 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Join SI Premium – FREE
Canaccord Genuity maintains a 'Hold' on Nike (NYSE: NKE) price target of $96.00.
Analyst, Camilo Lyon, said, "NKE will report FQ3/11 results on Thursday, March 22, after the close. We are modeling total sales growth/EPS of 15%/$1.09 vs. consensus estimates of 14.6%/$1.16, respectively. While footwear demand trends in the US remain robust, we believe trends in Europe have softened and will likely result in excess inventory in the region. In addition, steep discounts in performance apparel during the holidays also hurt gross margin, we believe. With inventory building in decelerating regions and the stock seemingly priced for perfection at 21x forward estimates, we view the risk/reward is balanced at best and thus maintain our rating."
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 $112.13 yesterday.
Analyst, Camilo Lyon, said, "NKE will report FQ3/11 results on Thursday, March 22, after the close. We are modeling total sales growth/EPS of 15%/$1.09 vs. consensus estimates of 14.6%/$1.16, respectively. While footwear demand trends in the US remain robust, we believe trends in Europe have softened and will likely result in excess inventory in the region. In addition, steep discounts in performance apparel during the holidays also hurt gross margin, we believe. With inventory building in decelerating regions and the stock seemingly priced for perfection at 21x forward estimates, we view the risk/reward is balanced at best and thus maintain our rating."
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 $112.13 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Piper Sandler Reiterates Overweight Rating on Estee Lauder (EL), 'F4Q26 Preview'
- Cantor Fitzgerald Reiterates Overweight Rating on Applied Materials (AMAT)
- Wolverine World Wide (WWW) PT Raised to $31 at UBS on Growth, EPS Upside Potential
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS ViewSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
