J.P. Morgan Keeps a Buy Rating on Nike (NKE)


J.P. Morgan analyst Matthew Boss maintained a Buy rating on Nike (NKE) yesterday and set a price target of $148.00. The company’s shares closed last Tuesday at $132.21, close to its 52-week high of $136.35.

According to TipRanks.com, Boss is a 4-star analyst with an average return of 10.0% and a 63.6% success rate. Boss covers the Consumer Goods sector, focusing on stocks such as Lululemon Athletica, Abercrombie Fitch, and Levi Strauss & Co.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Nike with a $146.00 average price target, an 11.9% upside from current levels. In a report issued on November 11, RBC Capital also initiated coverage with a Buy rating on the stock with a $145.00 price target.

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Based on Nike’s latest earnings release for the quarter ending August 31, the company reported a quarterly revenue of $10.59 billion and net profit of $1.52 billion. In comparison, last year the company earned revenue of $10.66 billion and had a net profit of $1.37 billion.

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NIKE, Inc. engages in the design, development, marketing, and sale of athletic footwear, apparel, accessories, equipment, and services. It operates through the following segments: North America; Europe, Middle East & Africa; Greater China; Asia Pacific & Latin America; Global Brand Divisions; Converse; and Corporate. The North America; Europe, Middle East & Africa; Greater China; and Asia Pacific & Latin America segments refers to the design, development, marketing, and selling of athletic footwear, apparel, and equipment. The Global Brand Divisions represents NIKE Brand licensing businesses. The Converse segment designs, markets, licenses, and sells casual sneakers, apparel, and accessories. The Corporate segment consists of unallocated general and administrative expenses. The company was founded by William Jay Bowerman and Philip H. Knight in 1964 and is headquartered in Beaverton, OR.

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