Nike price target raised to $127 from $120 at RBC Capital

RBC Capital analyst Piral Dadhania raised the firm’s price target on Nike to $127 from $120 and keeps an Outperform rating on the shares. The company’s Q2 results confirm a "strong underlying momentum" while its management appears to be dealing with headwinds as it planned, the analyst tells investors in a research note. The quarter’s "positive surprises" featured Nike revenue growth coming in ahead of expectations in all regions excluding China and gross margin reported as "less bad than feared", Dadhania adds.