UPDATE: RBC Capital Starts Nike (NKE) at Outperform

RBC Capital analyst Piral Dadhania initiates coverage on Nike (NYSE: NKE) with a Outperform rating and a price target of $125.00.

The analyst comments "Nike is the 100lb gorilla in sportswear with #1 market share, leading product franchises, and a Digital business that will drive future growth. We view China recovery as the catalyst to improve sentiment, which shows early signs of promise. Nike has proven its ability to remain one step ahead, with Digital business transformation, China app relaunch, ERP upgrade and RTFKT acquisition recent proof points. We estimate +8%/ +13% 5yr revenue/EPS CAGR, and initiate at Outperform, $125 price target."

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 $99.79 yesterday.

You May Also Be Interested In

• Freedom Broker Downgrades Karooooo Ltd. (KARO) to Hold
• U.S. Bancorp (USB) PT Raised to $74 at DA Davidson
• UBS Reiterates Buy Rating on Eli Lilly (LLY) on Deal to Acquire ATAI