Market Overview

UPDATE: JP Morgan Upgrades Nike to Overweight on Robust Growth Outlook

Share:
Related NKE
Baird Is Long Nike; Revenue Could Ramp Back Up In 2017
Retro Sneakers Are The Fastest Growing Footwear Category
What To Expect From Nike Earnings, Brexit's Impact On The Swoosh (Investor's Business Daily)

JP Morgan upgraded Nike (NYSE: NKE) from Neutral to Overweight and raised the price target from $50.00 to $64.00.

JP Morgan commented, "While near-term headwinds (2H13 pricing, labor, Int'l concerns) are worth noting, earnings visibility is improved (vs. 3 months ago) given (1) robust multi-year product pipeline (Free & Lunar w/Flyknit the next leg), (2) China roadmap firmly in place (11%) w/ signs of European stabilization (22%), and (3) laser focus on total shareholder returns (NT & LT profit balance w/ capital allocation levers). Just Do It! – Upgrade to Overweight."

Nike closed at $54.59 on Friday.

Latest Ratings for NKE

DateFirmActionFromTo
Jun 2016Morgan StanleyDowngradesOverweightEqual-weight
Jun 2016Bank of AmericaDowngradesBuyNeutral
May 2016Wells FargoAssumesMarket Perform

View More Analyst Ratings for NKE
View the Latest Analyst Ratings

Posted-In: JP MorganAnalyst Color Upgrades Analyst Ratings

 

Related Articles (NKE)

View Comments and Join the Discussion!