UBS Maintains a 'Buy' on Nike (NKE); Rare Miss; Sees Stronger Execution

UBS maintains a 'Buy' on Nike (NYSE: NKE) price target of $99.00 (from $125.00).

Analyst, Michael Binetti, said, "Nike's stock has increased by +6%, +15% and +27% in the 3-mos, 6-mos and 12-mos periods following prior EPS disappointments on avg. In our view, Nike’s execution has actually improved in recent qtrs, even though fundamentals will be under pressure from worsening global macro and unfavorable FX shifts in the near-term."

UBS lowers FY13 from $5.85 to $5.26 and FY14 from $6.74 to $6.05.

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 $96.89 yesterday.

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