Wells Fargo analyst Ike Boruchow maintained a Buy rating on Nike (NKE – Research Report) yesterday and set a price target of $120.00. The company’s shares closed yesterday at $94.64.
Boruchow covers the Consumer Cyclical sector, focusing on stocks such as Tapestry, Nike, and Gap. According to TipRanks, Boruchow has an average return of -4.1% and a 42.07% success rate on recommended stocks.
In addition to Wells Fargo, Nike also received a Buy from Telsey Advisory’s Cristina Fernandez in a report issued on April 23. However, on April 10, HSBC maintained a Hold rating on Nike (NYSE: NKE).
Based on Nike’s latest earnings release for the quarter ending February 29, the company reported a quarterly revenue of $12.43 billion and a net profit of $1.17 billion. In comparison, last year the company earned a revenue of $12.39 billion and had a net profit of $1.24 billion
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Nike (NKE) Company Description:
NIKE, Inc. is a maker of athletic footwear, apparel, accessories and equipment. It also sells athletic lifestyle sneakers, apparel and accessories under the Converse line. The company was founded by William Jay Bowerman and Philip H. Knight in 1964 and is headquartered in Beaverton, OR.
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