UBS Raises Price Target on Nike (NKE) Following EPS Beat
Get Alerts NKE Hot Sheet
Rating Summary:
32 Buy, 19 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 10 | New: 13
Join SI Premium – FREE
UBS reiterates a Buy rating on Nike (NYSE: NKE), and raised the price target to $122.00 (from $110.00), following F4Q15. NKE reported EPS of $0.98, above Street's $0.83. Analyst Michael Binetti says that there are several LT catalysts emerging that should help support an extended competitive advantage period.
Binetti commented, "NKE reported F4Q EPS of $0.98. Excluding +$0.13 from higher other inc. & a lower tax rate YOY, EPS would have been $0.86 (+10.3% YOY)—above our $0.85, Street: $0.83. EPS quality was solid, with +4.8% rev growth (+12.8% ex-FX) vs UBSe: +3.2% and GMs +60bp (UBSe: +25bp). Global futures accelerated to +13% ex-FX from +11% in F3Q. We're raising FY16E EPS to $4.20 (+13.5% YOY) from $3.95 based on +6.5% rev growth (incl a ~400bp FX drag), GM: +50bp YOY, SG&A: +6.5% YOY, $200m of other income (a ~$0.17 lift YOY) and 24% tax rate. Raising F1Q EPS to $1.18 from $1.17."
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 $105.22 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Vital Energy (VTLE) PT Raised to $75 at Stifel
- UCB (UCB:BB) (UCBJY) PT Raised to EUR135 at UBS
- Northern Oil and Gas (NOG) PT Raised to $55 at Stifel
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT ChangeRelated Entities
UBSSign 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!