Nike (NKE) PT Raised to $136 at Jefferies

Jefferies analyst Edward Plank reiterated a Buy rating and bumped his price target on Nike (NYSE: NKE) to $136.00 (from $128.00) following strong Q1 results.

Plank commented, "Nike exceeded expectations on nearly all fronts in F1Q, even in China and Europe, where market fears were greatest given economic turbulence. The company entered FY16 with strong momentum and healthy underlying demand across categories and geographies. Nike remains one of our top picks for near- and long-term performance and we see growth supported by a solid innovation platform leading into 2016's Summer Olympics."

The firm raised FY 2016 EPS from $4.15 to $4.25 and FY 2017 EPS from $4.80 to $4.90.

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 $114.79 yesterday.

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