Nike: Jefferies stays on 'buy' after results
(CercleFinance.com) - The day after the American sportswear giant published its quarterly results, Jefferies reiterates its 'buy' recommendation and its price target of 200 dollars for Nike, on the basis that shares will still go up at least 25% of the next twelve months.
“NKE's F1Q shows ongoing brand strength, the consumer is spending and not price sensitive, China sales continue to rise, and the LT model is solid”, underlines the broker.
Although it acknowledges that disruption in the supply chain dampens flow through, the broker considers it a temporary issue and believes Nike's long-term DTC model to be the best in class among global consumer companies.
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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.
“NKE's F1Q shows ongoing brand strength, the consumer is spending and not price sensitive, China sales continue to rise, and the LT model is solid”, underlines the broker.
Although it acknowledges that disruption in the supply chain dampens flow through, the broker considers it a temporary issue and believes Nike's long-term DTC model to be the best in class among global consumer companies.
Copyright (c) 2021 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.