Nike: Susquehanna raises target price
(CercleFinance.com) - On Wednesday a Susquehanna analyst confirms a "positive" recommendation on the Nike group's stock, appreciating the sporting goods giant's prospects.
The broker has therefore raised its target price for the share from 130 dollars to 150 dollars.
"We think improving trends, cost savings from upcoming layoffs of 7% to 10% of its workforce as focus rapidly moves further to DTC, and FX tailwinds will drive Nike beyond its FY23 $50B revenue target," the broker says.
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