Nike: buy any weakness, Susquehanna says
(CercleFinance.com) - Susquehanna maintains its "positive" rating on Nike, with a target price of 100 dollars, saying that momentum is "just beginning" for the athletic gear maker after it reported its first-quarter results.
"A robust new product pipeline and more focused marketing strategy is just beginning to ramp up already healthy revenue and margin growth across categories and geographies," the US broker writes in a note.
Susquehanna points out that revenue growth in North America continues to accelerate, with targeted wholesale revenue improving as well.
At the same time, the outlook for the second quarter highlights ongoing momentum, the broker adds, despite anticipated FX headwinds.
Recommending investors to buy the shares on any weakness (the Nike stock is down 3% today at 82 dollars), Susquehanna says it sees downside limited to about 75 dollars if the momentum fails to continue.
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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.
"A robust new product pipeline and more focused marketing strategy is just beginning to ramp up already healthy revenue and margin growth across categories and geographies," the US broker writes in a note.
Susquehanna points out that revenue growth in North America continues to accelerate, with targeted wholesale revenue improving as well.
At the same time, the outlook for the second quarter highlights ongoing momentum, the broker adds, despite anticipated FX headwinds.
Recommending investors to buy the shares on any weakness (the Nike stock is down 3% today at 82 dollars), Susquehanna says it sees downside limited to about 75 dollars if the momentum fails to continue.
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.