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Benchmark Starts Nike as a “Buy” (NKE)

By Dividend.com,  April 20, 2012, 09:39:18 AM EDT

Athletic footwear and apparel maker Nike, Inc. ( NKE ) on Friday saw its coverage initiated with a "Buy" rating by analysts at Benchmark Research.

The firm also set a $128 price target on NKE shares, suggesting a 17% upside to the stock's Thursday closing price of $109.61. Benchmark noted the company is well-leveraged to benefit from a busy sporting calendar.

Nike shares posted modest gains in morning trading Friday.

The Bottom Line
Shares of Nike ( NKE ) have a 1.31% dividend yield, based on last night's closing stock price of $109.61. The stock has technical support in the $104-$105 price area. The stock is trading right near all-time highs.

Nike, Inc. ( NKE ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Stocks

Referenced Stocks: NKE



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