| Ticker | Status | Jurisdiction | Filing Date | CP Start | CP End | CP Loss | Deadline |
|---|
| Ticker | Case Name | Status | CP Start | CP End | Deadline | Settlement Amt |
|---|
| Ticker | Name | Date | Analyst Firm | Up/Down | Target ($) | Rating Change | Rating Current |
|---|
Nike Inc's (NYSE:NKE) first-quarter results indicate improving trends from the "Win Now" strategy.
The apparel company appears better positioned for a return to sustainable growth and margin recovery, according to KeyBanc Capital Markets’ Ashley Owens.
The Nike Analyst: Owens upgraded the rating from Sector Weight to Overweight, while establishing a price target of $90.
The Nike Thesis: The company's revenue grew 1.1% year-over-year to $11.7 billion, and earnings came in at 49 cents per share, beating Street expectations of $10.99 billion and 27 cents per share, respectively, Owens said in the upgrade note.
Check out other analyst stock ratings.
The quarterly results, including the Running category's 20% revenue growth, 4% sales growth in North America and 5% growth in wholesale sales, indicate "further execution against strategic initiatives," the analyst stated.
The Sport Offense strategy seems to be resonating with consumers, he added.
Although Nike is likely to witness pressures from tariffs, digital and China through the rest of this year, "we believe Nike’s global scale, improving product pipeline, and multi-sport portfolio position the Company for a return to sustainable growth and margin recovery," Owens further wrote.
NKE Price Action: Shares of Nike had risen by 2.20% to $75.83 at the time of publication on Thursday.
Read More:
Image: Shutterstock
Posted In: NKE
