Nike (NKE) will report earnings on December 21, and Susquehanna's Sam Poser shares this thoughts on the upcoming quarter today, writing that he's still on the sidelines when it comes to the stock.
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Poser reiterated a Neutral rating on the stock today, although he raised his price target from $50 to $57. He writes that Nike still has international strength going for it, and there are some signs that it's North American business is beginning to improve.
That said, Nike needs North America growth to reach its targets, and given the size of its North American franchises, Poser worries that there's not much clarity on how it will balance brand sanctity, scale, and growth.
More from his note:
By contrast, Guggenheim is bullish on Nike, and Cowen & Co. also thinks the stock is a buy.
Nike shares are up 0.9% to $62.70 in recent trading, after climbing 23.4% since the start of the year.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
