Nike: Susquehanna downgrades its rating.
(CercleFinance.com) - Broker Susquehanna has downgraded its rating on the Nike from "positive" to "neutral," and has cut its corresponding target price from 64 dollars to 54 dollars, in line with its estimates for growth in revenues, excluding FX factors, which it has reduced from 4.
5% to 3.3 % for 2018 and from 9.1% to 6.2% for 2019.
The broker said that these reductions are based on our concerns that the group's North American and European activities are decelerating in some key categories - especially basketball - and have underperformed, leaving excess stocks in the market.
It expects the sporting goods giant to reveal a new five-year growth plan, postponing its target for revenues of 50 billion dollars to beyond 2020 when it unveils its quarterly results on 26 September, or at its investor day on 25 October.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
5% to 3.3 % for 2018 and from 9.1% to 6.2% for 2019.
The broker said that these reductions are based on our concerns that the group's North American and European activities are decelerating in some key categories - especially basketball - and have underperformed, leaving excess stocks in the market.
It expects the sporting goods giant to reveal a new five-year growth plan, postponing its target for revenues of 50 billion dollars to beyond 2020 when it unveils its quarterly results on 26 September, or at its investor day on 25 October.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.