UPDATE: Citigroup Removes Nike from Top Picks Live! List

Citigroup has published a research report on Nike

after removing the company form its Top Picks Live! list. In the report, Citigroup writes, "We remove NKE from Citi's TPL! as +18% Futures could be strongest medium-term performance, NKE's strong +15% stock performance YTD, & lack of NT catalyst until ~May. We do reiterate our Buy on NKE as we believe price increases are being readily accepted by retailers and see growth on new innovation, continued North America momentum & China." Citigroup maintains its Buy rating and $123 price target on Nike, which closed yesterday at $110.99.