Nike: Jefferies still a buyer
(CercleFinance.com) - Jefferies maintains its Buy rating on Nike shares, along with its target price of $140 (pre-market trading price; $120, -0.
6%).
The broker says that it expects Nike's Q3 results to be strong, given the positive trends/ "Interest in sneakers was strong during the Holiday season and has remained elevated YTD," the broker said.
"Particularly as updated data suggests China is getting better and Adidas' recent weakness could provide NKE with additional share gains," Jefferies points out.
While the stock is not cheap, Jefferies maintains its long-term Buy rating on it, which it says is "based on the company's track record of innovation".
Copyright (c) 2023 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.
6%).
The broker says that it expects Nike's Q3 results to be strong, given the positive trends/ "Interest in sneakers was strong during the Holiday season and has remained elevated YTD," the broker said.
"Particularly as updated data suggests China is getting better and Adidas' recent weakness could provide NKE with additional share gains," Jefferies points out.
While the stock is not cheap, Jefferies maintains its long-term Buy rating on it, which it says is "based on the company's track record of innovation".
Copyright (c) 2023 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.