- 19 Mar '18 at 4:39 pm #15642
Nike reports earnings after the close Thursday. $NKE…
[article]651[/article]20 Mar '18 at 12:40 am #15645ClemSnideParticipant
Am thinking they will turn those resignations into a positive spin come that conference call and talk up Le Bron’s new shoes and the March Madness tournament20 Mar '18 at 12:41 am #15646
Think you may be right Clem 🙂26 Mar '18 at 1:01 am #15761MoneyNeverSleepsParticipant
Strong positive report – will be interesting if they can achieve the North American turnaround as promised.26 Mar '18 at 11:38 pm #15795
Merrill Lynch reiterated Underperform rating but raised price objective to $50 from $42.
Also raised its 2018 earnings estimate on lower tax rate guidance, noting that initial 2019 guidance is below a five-year growth algorithm and still sees pressure in North America while direct to consumer efforts were not growing as fast as hoped.26 Mar '18 at 11:40 pm #15796
Wedbush reiterated Outperform rating and raised price target to $75 from $74
Says key initiatives designed to reignite Nike’s growth in North America and around the globe are gaining traction and were evident in its third-quarter results that beat across all lines.26 Mar '18 at 11:41 pm #15798
Credit Suisse reiterated Outperform rating with $78 price target.
Nike is finally poised to reverse 2 years of share losses:
1) New innovation scaling (VaporMax selling “millions” of pairs, Epic React selling out);
2) North America momentum accelerating exiting third quarter (fourth quarter revenue guidance: flat vs third quarter: -6%);
3) Accelerating int’l momentum (revenues +19% in third quarter).
We’re lowering fiscal 2019 EPS slightly to reflect our view that Nike plans to accelerate investments, as well as N. America revenues (despite improving) still below Nike’s +MSD algorithm (which should result in EPS below midteens algorithm). But with the key sentiment driver (N. America) starting to accelerate (US wholesale back to “pull-market”), & upside to +50 basis points gross margin guidance.26 Mar '18 at 11:43 pm #15799
More Upgrades on Nike:
Canaccord Genuity has a Hold rating and raised its target to $62 from $60.
Deutsche Bank raised its price target from $75 to $76.
Instinet has a Buy rating and raised its target to $74 from $65.
Jefferies raised its price objective to $68 from $59.
Raymond James raised its target price to $75 from $67.
Susquehanna has a Neutral rating and raised its target from $60 to $62.26 Mar '18 at 11:43 pm #15800
Nike Inc NYSE: NKE · March 26, 3:43 PM EDT
65.97 ▲ 1.35 (2.09%)
Rallying as upgrades kick in29 Apr '18 at 11:19 pm #16423
Adam Struzynski @astruzynski
Bears need to get to $NKE and $VZ
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