Market Overview

UPDATE: Canaccord Genuity Reiterates Hold Rating, Raises PT on Nike

Share:
Related NKE
Nike Appoints Adam Sussman As First-Ever Chief Digital Officer, Notes Digital Offers A 'Fundamental Transformation'
Most Of Credit Suisse's Top Investment Ideas For 2016...In One Place
Nike Shoe Sales Fall 2nd Week In A Row; Under Armour, Skechers Jump (Investor's Business Daily)

In a report published Friday, Canaccord Genuity reiterated its Hold rating on Nike (NYSE: NKE), and raised its price target from $94.00 to $100.00.

Canaccord Genuity noted, “NKE reported good FQ2 EPS results of $1.14 vs. our $0.99 estimate ($1.00 consensus). Relative to our model, the beat was driven by a better gross margin (+4c), a push-out of expenses into Q3 (+8c), and other income (+3c). NA futures were +14% vs. our estimate of +10%, indicating still-healthy demand in the US, while China futures (-7%) were also better than we modeled. Despite these positives, guidance for Q3 is below consensus due to the shift in expenses and sales will decelerate in Q4. This was a clean report with more positives than negatives, yet we maintain our HOLD rating as the risk/reward appears balanced.”

Nike closed on Thursday at $99.00.

Latest Ratings for NKE

DateFirmActionFromTo
Jan 2016Deutsche BankMaintainsBuy
Dec 2015Argus ResearchReiteratesBuy
Dec 2015Brean CapitalMaintainsBuy

View More Analyst Ratings for NKE
View the Latest Analyst Ratings

Posted-In: Canaccord GenuityAnalyst Color Price Target Analyst Ratings

 

Related Articles (NKE)

View Comments and Join the Discussion!

Get Benzinga's Newsletters