Nike: Susquehanna upgrades shares on market share gain
(CercleFinance.com) - Susquehanna has upgraded Nike from "neutral" to "positive," and has raised its target price for the share from 78 dollars to 93 dollars, seeing improvements on the North American wholesale market.
The broker recommends investors buy the shares, as the US sports apparel maker is gaining share from Adidas and other players at athletic specialty retailers, such as Foot Locker, and is also gaining share within the family footwear channel, it says.
In a note sent to clients, Susquehanna writes that the share's rise is due to a better product offering and product flow, and hence believes that Nike is on pace to meet its 2023 target of 50 billion dollars in revenues.
The Nike share is currently up 2.2% at 81.5 dollars in Wall Street today.
Copyright (c) 2018 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.
The broker recommends investors buy the shares, as the US sports apparel maker is gaining share from Adidas and other players at athletic specialty retailers, such as Foot Locker, and is also gaining share within the family footwear channel, it says.
In a note sent to clients, Susquehanna writes that the share's rise is due to a better product offering and product flow, and hence believes that Nike is on pace to meet its 2023 target of 50 billion dollars in revenues.
The Nike share is currently up 2.2% at 81.5 dollars in Wall Street today.
Copyright (c) 2018 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.