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Jefferies Reiterates “Buy” Rating for Nike; Excited About Q1 Results (NKE)

Analysts at Jefferies & Co. on Tuesday reiterated their "Buy" rating for athletic footwear and apparel maker Nike, Inc. ( NKE ).

The firm also maintained its $100 price target on NKE shares, suggesting a nearly 11% upside to the stock's Monday closing price of $90.20.

Jefferies sees Nike reporting consensus-beating results when it delivers its fiscal first quarter earnings report on Thursday. The analyst also sees several catalysts on the horizon for the company, including the 2012 Summer Olympics, an on-field NFL apparel license, and planned price increases.

Nike shares fell 40 cents, or -0.4%, in premarket trading Tuesday.

The Bottom Line

Shares of Nike ( NKE ) have a 1.37% dividend yield, based on last night's closing stock price of $90.20. The stock has technical support in the $83-$86 price area. The stock is trading near all-time highs of $94 a share.

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 Nasdaq, Inc.

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

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