Williams Trading raised the firm’s price target on Nike (NKE) to $100 from $73 and keeps a Buy rating on the shares ahead of the fiscal Q1 earnings report in late September. The firm believes Nike’s sales and margins will begin to positively inflect within six weeks. The company’s U.S. marketplace will be largely cleaned up by the end of September, the analyst tells investors in a research note. Williams says full price Air Force One sales are turning positive on a year-over-year basis while U.S. retailers are pleased with the Jordan Retro.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on NKE:
- Morning News Wrap-Up: Friday’s Biggest Stock Market Stories!
- Nike Stock (NKE) Races Higher as it Catches Up With Chinese Trail Runners
- Amazon partnership reinforces Nike brand’s ubiquity, says Jefferies
- Dick’s Sporting Goods (DKS) Makes Analysts Sweat Ahead of $2.4B Foot Locker Deal
- Nike Chairman sells $6.54M in common stock