UPDATE: Sterne Agee Raises Target on Nike to $125
Sterne Agee raises its target on Buy-rated Nike (NYSE: NKE) to $125 from $110 as the company introduces new technologies intersecting sports and data.
Sterne Agee says, "On February 21 and 22, 2012, Nike presented numerous new technologies to retailers, media and investors. The most impressive new offering was the new Lunarlon collection, which featured Nike+ Basketball and Nike+ Training, all of which are expected to launch at retail on June 29. The new Nike + Basketball and Training shoes feature the Nike+ Pressure Sensor in each shoe that wirelessly transmits data to a mobile device. The results can then be reviewed and then shared via social media."
NKE closed at $105.73 a share on Wednesday.
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