Janney Montgomery Scott on Nike (NKE): FX, China & Investments Mute Flow, But Still Believe Premium is Warranted
Tweet
Share
E-mailGet Alerts NKE Hot Sheet
Price: $94.64 +0.66%
Rating Summary:
32 Buy, 19 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 11 | New: 14
Rating Summary:
32 Buy, 19 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 11 | New: 14
Join SI Premium – FREE
Janney Montgomery Scott maintains a 'Buy' on Nike (NYSE: NKE) price target of $100.00.
Analyst, Eric Tracy, said, "While we were somewhat cautious on shares heading into the print (owing mostly to global uncertainty in Europe/China and too-high consensus FY13 EPS expectations), the magnitude of the 4Q miss ($1.17 vs. our/consensus $1.38/$1.37) and lowered guidance was greater than we feared. As a result, we lower our estimates and FV, but maintain our Buy rating on shares of NKE. While near term upside catalysts are admittedly lacking, and global macro uncertainty is heightened, the bulk of our earnings revisions are non-operational in nature (FX headwinds and higher tax take ~$0.40 from FY13 EPS), taking FY13 EPS guidance from +mid-teens to +HSD."
"We are modeling FY13 EPS of $5.12 (+7%) ex-Cole Haan / Umbro."
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.
Analyst, Eric Tracy, said, "While we were somewhat cautious on shares heading into the print (owing mostly to global uncertainty in Europe/China and too-high consensus FY13 EPS expectations), the magnitude of the 4Q miss ($1.17 vs. our/consensus $1.38/$1.37) and lowered guidance was greater than we feared. As a result, we lower our estimates and FV, but maintain our Buy rating on shares of NKE. While near term upside catalysts are admittedly lacking, and global macro uncertainty is heightened, the bulk of our earnings revisions are non-operational in nature (FX headwinds and higher tax take ~$0.40 from FY13 EPS), taking FY13 EPS guidance from +mid-teens to +HSD."
"We are modeling FY13 EPS of $5.12 (+7%) ex-Cole Haan / Umbro."
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.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Goldman Sachs on Meta Platforms Inc. (META): 'We expect investors to have an initial negative reaction'
- Prudential Financial (PRU) PT Raised to $116 at Evercore ISI
- Ameriprise Financial (AMP) PT Raised to $445 at Morgan Stanley
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS Change, Analyst EPS ViewRelated Entities
Janney Montgomery Scott, EarningsSign 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!
