Market Overview

UPDATE: Citigroup Downgrades Nike to Neutral on Limited Upside Potential

Share:
Related NKE
Watch These 8 Huge Put Purchases In Friday Trade
Benzinga's Option Alert Recap From February 23
Foot Locker Sprints As Earnings Growth Continues To Accelerate (Investor's Business Daily)

Citigroup reduced its rating on Nike (NYSE: NKE) from Buy to Neutral but raised its price target from $98 to $101.

Citigroup noted, "For the last several qtrs, Nike's P/E multiple expansion has been driven by double-digit top line growth rates due to strong innovation, global secular growth and higher prices. While we expect futures to still be healthy, futures could start to decelerate to below ~10% over the next 12 mos as the company laps several growth drivers."

Nike closed at $100.84 on Wednesday.

Latest Ratings for NKE

DateFirmActionFromTo
Jan 2017Atlantic EquitiesInitiates Coverage OnOverweight
Jan 2017CLSAInitiates Coverage OnUnderperform
Dec 2016Cowen & Co.DowngradesOutperformMarket Perform

View More Analyst Ratings for NKE
View the Latest Analyst Ratings

Posted-In: CitigroupAnalyst Color Downgrades Intraday Update Analyst Ratings

 

Related Articles (NKE)

View Comments and Join the Discussion!