Nike price target raised to $120 from $112 at BofA

BofA analyst Lorraine Hutchinson raised the firm’s price target on Nike to $120 from $112 and keeps a Neutral rating on the shares. While the company’s strong revenue in Q2 "surprised to the upside," the company didn’t move through as much inventory as she expected, Hutchinson tells investors. While "encouraged" by the Q2 beat and improved sales outlook for the year, she still sees a balanced risk/reward, Hutchinson added.