UPDATE: McAdams Wright Ragen Maintains Nike at Hold on Valuation
McAdams Wright Ragen reiterated its Hold sting on Nike (NYSE: NKE) 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.
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.