BofA raised the firm’s price target on Nike to $135 from $128 and keeps a Neutral rating on the shares. The company’s fiscal Q3 performance was "strong," but its guidance was "mixed," said the firm, which thinks Nike’s inventory "good news" was somewhat offset by a lower gross margin outlook.
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Read More on NKE:
- Nike added to ‘Tactical Outperform’ list at Evercore ISI
- Nike price target raised to $112 from $105 at Piper Sandler
- Nike price target raised to $160 from $140 at Jefferies
- BMO Capital concerned that margin growth hopes for Nike are optimistic
- Nike price target raised to $145 from $135 at Guggenheim