After Cowen & Co. and Wedbush gave Nike (NYSE: NKE) a Buy rating last month, the company received another Buy, this time from Morgan Stanley. Analyst Kimberly Greenberger reiterated a Buy rating on Nike yesterday. The company’s shares closed last Wednesday at $97.77.
According to TipRanks.com, Greenberger is a 5-star analyst with an average return of 10.2% and a 58.0% success rate. Greenberger covers the Consumer Goods sector, focusing on stocks such as Lululemon Athletica, Abercrombie Fitch, and Acushnet Holdings.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Nike with a $110.44 average price target, which is a 12.1% upside from current levels. In a report issued on June 15, UBS also maintained a Buy rating on the stock with a $114.00 price target.
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Nike’s market cap is currently $152.5B and has a P/E ratio of 60.70. The company has a Price to Book ratio of 19.72.
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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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