Market Overview

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

Share:
Related NKE
Why Under Armour Needs To Stop Trying To Compete With Nike
Earnings Preview: Under Armour And MGM Resorts Get Ready To Report
Capital Insight Partners, Llc Buys Medtronic PLC, PepsiCo, Mitsubishi UFJ Financial Group, ... (GuruFocus)

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
Apr 2017ArgusDowngradesBuyHold
Jan 2017Atlantic EquitiesInitiates Coverage OnOverweight
Jan 2017CLSAInitiates Coverage OnUnderperform

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!