Nike (NKE) PT Raised to $77 at Argus

Argus reiterated a Buy rating and raised its split-adjusted price target on Nike (NYSE: NKE) to $77.00 (from $75.00), noting the company continues to increase market share.

The firm expect higher margins based on recent price hikes, moderating input costs, and a less negative impact from foreign exchange.

The firm is raising FY16 EPS estimate from $2.21 to $2.22 and our FY17 estimate from $2.49 to $2.50.

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 $63.18 yesterday.

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