UBS analyst Jay Sole continues to see “meaningful” near-term downside risk to Street EPS estimates for Nike (NKE), but believes the Nike and Jordan brand names are strong, telling investors that the UBS Evidence Lab’s tenth global athletic wear survey reinforces that view. The firm, which believes the enduring strength of these brands “provides the foundation upon which Nike can ultimately stage a comeback,” keeps a Neutral rating and $73 price target on Nike shares.
Don't Miss Our Christmas Offers:
- Discover the latest stocks recommended by top Wall Street analysts, all in one place with Analyst Top Stocks
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on NKE:
- Analysts: Nike (NYSE:NKE) Comeback a “Long-Term, Painful Process.”
- The Dow Jones is Still Dropping After the December Fed Meeting
- Nike price target lowered to $105 from $110 at Baird
- FedEx to separate Freight unit, Nike reports Q2 beat: Morning Buzz
- Nike downgraded, FedEx upgraded: Wall Street’s top analyst calls
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
