Sterne Agee Cuts Nike (NKE) Numbers Ahead of Q3 Results

Sterne Agee analyst Sam Poser cut estimates on Nike (NYSE: NKE) Thursday citing Decelerating future orders and increased reliance on the U.S. business. He maintained a Neutral rating.

"Continued weakness in Western Europe and apparel in China will pressure results," the analyst states. "The onus for growth is being put on U.S. which will begin to decelerate as multi-year comparisons become more difficult. Nike is showing small signs of moving to a push model rather than a pull model."

The firm lowered FY13/14 EPS from $2.63/$2.99 to $2.62/$2.97. Nike reports 3Q13 earnings on Thursday, March 21, after the close.

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 $54.85 yesterday.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• BWS Financial Downgrades Inter Parfums (IPAR) to Sell
• BofA Securities Reiterates Buy Rating on Micron Technology (MU); Sees $230+ in EPS by FY30
• Yum! Brands (YUM) PT Lowered to $180 at Argus