Morgan Stanley raised its price target for Nike Inc (NYSE: NKE) from $88 to $105. According to a research note from Jay Sole and Joseph Watt, Nike will sustain a 16 percent three-year EPS CAGR.
Morgan Stanley claimed that EPS will increase due to “long-term investments made to improve product innovation, distribution, supply chain efficiency, and FX management.”
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Nike is in the “early stages of major EPS growth acceleration” and its balance sheet “is helping it create a virtuous circle of outsized investment spending, operational excellence, brand strength, and ROIC gains.”
Sole felt that a bear case scenario could see the stock move to $75 if the company failed to meet sales targets. He maintained that a base of $105 is more likely and if sales accelerate faster than expected, the price could move to $132.
Nike closed at $82.12 on Monday.
27% profit every 20 days?
This is what Nic Chahine averages with his option buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.