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Deutsche Bank trimmed its fiscal 2015 earnings forecast for Nike (NYSE: NKE) by 1.5 percent on Monday, citing a difficult macro environment for the sports footwear giant.

Deutsche's David Weiner took the action ahead of Nike's fiscal fourth-quarter earnings release Thursday, but left his forth-quarter forecast unchanged at $0.70 per share. Weiner also maintained an $85 target and Buy rating.

Weiner now expects fiscal 2015 earnings will come in at $3.26 a share, revised down from his previous estimate of $3.31.

Besides macro factors, Weiner cited the company's tendency toward conservative forecasts and a Street consensus which he believes hasn't adequately accounted for foreign exchange pressures.

As for the upcoming quarterly report, investors are looking for additional details on Nike's 2015 plan, while trends in gross margin are key to profits.

"Nike's U.S. market strength appears to be continuing," said Weiner, although its product mix is shifting to basketball shoes, from running.

The company's China market is turning around and Russia's weakness won't hurt Nike, Weiner said.

Nike traded recently at $75.57 a share, up 0.63 percent.

Latest Ratings for NKE

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

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Posted-In: David Weiner Deutsche BankAnalyst Color Reiteration Analyst Ratings


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