According to Citi, Nike (NYSE: NKE) price target is raised to $113.
Citi said that NKE stock going higher on revenue/margin beats on accelerated futures & higher gross margin guidance at 2Q EPS (12/20). “NKE's 1Q SG&A grew +9.0% which was an acceleration from 2H's +2-5% growth.”
Nike closed yesterday at $96.45.
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