HSBC analyst Erwan Rambourg maintained a Hold rating on Nike (NKE) yesterday and set a price target of $96.00. The company’s shares closed last Wednesday at $85.30.
Rambourg wrote:
“LONDON (dpa-AFX Analyser) – Die britische Investmentbank HSBC hat das Kursziel fur Nike von 112 auf 96 US-Dollar gesenkt und die Einstufung auf “Hold” belassen. Die Corona-Krise mache erheblich Einschnitte bei den Schatzungen fur die Sportartikelhersteller erforderlich, schrieb Analyst Erwan Rambourg in einer am Donnerstag vorliegenden Branchenstudie. Langfristig bleibe die globale Lage im Sektor aussichtsreich, auf Nike jedoch blicke er vorsichtig wegen der Bewertung und der Abhangigkeit vom US-Markt./mf/tih
Veroffentlichung der Original-Studie: 08.04.2020 / 15:08 / GMT
Erstmalige Weitergabe der Original-Studie: 08.04.2020 / 22:26 / Zeitzone in Studie nicht angegeben
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Rambourg has an average return of 17.0% when recommending Nike.
According to TipRanks.com, Rambourg is ranked #712 out of 6295 analysts.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Nike with a $95.50 average price target, a 12.8% upside from current levels. In a report issued on March 25, Deutsche Bank also maintained a Hold rating on the stock with a $84.00 price target.
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Nike’s market cap is currently $132.8B and has a P/E ratio of 31.10. The company has a Price to Book ratio of 15.34.
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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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