Nike, Inc.’s (NKE) Price Target Raised

Analysts at Thomas Weisel Partners have raised the price target for Nike, Inc. (NYSE: NKE) stock from $70 to $77. The new price target represents a multiple of 18x analysts’ FY11 EPS estimate.

Nike will report its third-quarter results on March 17. Analysts are confident that the company will meet their EPS estimate of $0.88 in third-quarter. Analysts expect Nike to improve gross margins into FY11 due to greatly improved inventory positions, soft margin comparisons from a year ago, World Cup orders, and benefits from lower input costs.

Analysts at Thomas Weisel Partners continue to rate Nike, Inc. as Overweight.