Nike Has Best Foot(wear) Forward, Says Argus Research: Here Are 3 Other Fashionable Options
Argus Research analysts on Friday reiterated a Buy rating for Nike Inc (NYSE: NKE), raising the price target from $102 to $110. This implies an upside potential of approximately 14 percent from the current price point. Nike traded recently at $97.01.
Five other research firms have issued positive (Buy or Outperform) ratings since December 10, setting price targets between $105 and $115.
Here is a look at a few other players in the apparel and footwear space.
Crocs, Inc. (NASDAQ: CROX) is among the best-looking companies in the footwear space. The stock over the last couple months has received Buy ratings from Wunderlich, Monness Crespi Hardt and Sterne Agee, accompanied by price targets of $17, $20 and $16, respectively.
The stock recently traded just above $12.50, which means the minimum upside expected surpasses 27 percent, while the best-case scenario (from Monness Crespi Hardt) implies an upside potential of almost 60 percent.
The company on December 22 announced the appointment of Gregg Ribatt as its new CEO, effective at the end of January. Analysts appeared pleased with the news, as shares are up more than 3 percent this week.
Under Armour Inc (NYSE: UA) also felt research firms’ bullishness lately. Since the start of November, FBR Capital and Cowen & Company initiated coverage on the stock with Outperform ratings and $81 and $85 price targets, correspondingly, while BB&T Capital assumed coverage with a Buy and an $80 price target.
The stock recently traded at $68.36.
Jim Cramer also seemed confident in this stock, and recommended it on "Mad Money" in early November.
Analysts also like Skechers USA Inc (NYSE: SKX). In late October, Citigroup reiterated its Buy rating with a $68 price target, Morgan Stanley initiated coverage at Overweight with a $73 price target, and Wunderlich Securities reiterated a Buy and $70.00 price target.
The stock recently traded at $56.44.
Image credit: Liz Jones, Flickr
Latest Ratings for NKE
|Oct 2016||Susquehanna||Initiates Coverage On||Positive|
|Sep 2016||Guggenheim||Initiates Coverage on||Buy|
|Sep 2016||Credit Suisse||Maintains||Outperform|
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