UBS Maintains a 'Buy' on Nike (NKE); Revenue Upside & Improving GM Visibility
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Price: $94.19 --0%
Rating Summary:
32 Buy, 19 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 7 | Down: 4 | New: 2
Rating Summary:
32 Buy, 19 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 7 | Down: 4 | New: 2
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UBS maintains a 'Buy' on Nike (NYSE: NKE) price target raised $106 to $115.
UBS analyst says, "We believe Nike has the most visible revenue catalysts in our coverage universe in CY12, based on: 1) upcoming footwear innovation launch for the London Olympics (similar to Lunar, Flywire launch in Beijing); 2) recently acquired NFL license (we believe apparel upside is underappreciated); and 3) new digital sports programs (similar to recently launched Fuel platform, which drive deep consumer connections). Raising FY13e rev growth by ~0.5% (to +10.2% YOY, Street: +8.8%)."
"Impactful new product innovation, new businesses, and an accelerating digital strategy support our view for continued rev upside. We believe ongoing double digit futures/revenue growth & potential for faster GM recovery can support a P/E at the high end of NKE's historical range...Raising FY13E EPS to $5.91 from $5.83."
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 $104.23 yesterday.
UBS analyst says, "We believe Nike has the most visible revenue catalysts in our coverage universe in CY12, based on: 1) upcoming footwear innovation launch for the London Olympics (similar to Lunar, Flywire launch in Beijing); 2) recently acquired NFL license (we believe apparel upside is underappreciated); and 3) new digital sports programs (similar to recently launched Fuel platform, which drive deep consumer connections). Raising FY13e rev growth by ~0.5% (to +10.2% YOY, Street: +8.8%)."
"Impactful new product innovation, new businesses, and an accelerating digital strategy support our view for continued rev upside. We believe ongoing double digit futures/revenue growth & potential for faster GM recovery can support a P/E at the high end of NKE's historical range...Raising FY13E EPS to $5.91 from $5.83."
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 $104.23 yesterday.
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