NIKE Gets Buy Recommendations

Written by: Staff on 28th December 2011

NIKE Gets Buy Recommendations |

After a reasonably successful quarter that saw NIKE report $1.00 earnings per share and beat the Thomson Reuters consensus estimate of $0.03, a number of analysts reiterated a “buy” rating on its shares. The company’s quarterly revenue was up 18.4% on a year-over-year basis.

The Jefferies Group. Sterne Agee, Bank of America and Citigroup all kept their buy ratings.

Sterne Agee has a price target of $110.00 on the stock; Bank of America has it at $105.00 while Citigroup has it as $115.00.

NIKE did have a “hold” rating reaffirmed by analysts at Canaccord Genuity.

Shares of NIKE closed Tuesday at $97.77.

NIKE hit a 52 week low of $69.43 and a 52 week high of $98.25 in 2011.

NIKE is one of the largest sellers of athletic footwear and athletic apparel in the world and has its products available to customers in over 170 countries. It remains one of the largest influences in tennis, sponsoring the likes of Roger Federer, Rafael Nadal and Maria Sharapova.

The company has a market cap of $44.929 billion and a price-to-earnings ratio of 20.59.

Topics: Nike