Jefferies Lifts Price Target on Nike (NKE) Ahead of Q3 EPS

Jefferies boosted its price target on Buy-rated Nike (NYSE: NKE) from $115 to $130 and raised FY13 EPS estimates from $5.95 to $6.05 ahead of earnings on March 22nd.

The firm comments, "We think NKE is set up well into F3Q12 earnings (despite the stock's consistent upward march this year). The product cycle is alive and well, retail sell-through is robust, prices are on the rise and event catalysts are on the horizon. As a result, we see better than expected sales and futures orders as the key catalysts to near-term momentum. Last quarter's lowered GM% outlook also creates a favorable margin beat-scenario."

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 $112.13 yesterday.

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