Barclays Slightly Lowers Estimates on Nike (NKE); Still Sees Well-Positioned Outlook

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

Analyst, Robert S. Drbul, said, "Nike reported 3Q12 EPS of $1.20 yesterday, $0.01 above our estimate and $0.03 above consensus. Revenue rose 15.1% to $5.85 billion, above our 14.2% estimate. We view the sizeable double digit-growth in developed markets, North America (+17.0%) and China (+25.3%), as indicative of ongoing strength of the brand."

"With notable strength in futures, we remain confident in our outlook and are
maintaining our PT of $125. Given cost pressures improving slower than expected, we are lowering our FY12 and FY13 EPS to $4.95 and $5.70 from $5.00 and $5.80."

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 $110.99 yesterday.

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