UPDATE: McAdams Wright Ragen Maintains Nike at Hold on Valuation

McAdams Wright Ragen reiterated its Hold sting on Nike

as valuation offsets solid Q2 results. McAdams Wright Ragen noted, "The strength of Nike's brands and its history of consistent execution give us confidence in its longer-term prospects. While we believe there is moderate potential upside in the shares over the next 12-24 months, we prefer a better entry point to provide not only better potential returns, but also to insulate from the downside risks inherent in a still-choppy global economy." Nike closed at $51.76 on Thursday.