Nike (NKE) PT Lifted to $152 at Jefferies on Strong Q2
Jefferies analyst Edward Plank reiterated a Buy rating and raised his price target on Nike (NYSE: NKE) to $152.00 (from $150.00) following better-than-expected Q2 results.
Plank commented, "Nike again delivered ahead of expectations, the results of which speak to the brand’s power and market positioning even amidst a challenging environment. Although there are some moving parts to the balance of FY’16, the outlook for the year remains intact & we are upbeat on the company’s prospects into 2016 given strong futures orders and a compelling slate of sporting events over the course of the year."
The firm trimmed Q3 EPS from $1.05 to $0.95, maintained FY 2016 at $4.30 and raised FY 2017 to $4.95 to $5.00.
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Shares of Nike closed at $131.85 yesterday.