Nike price target raised to $139 from $132 at Credit Suisse

Credit Suisse analyst Michael Binetti raised the firm’s price target on Nike to $139 from $132 and keeps an Outperform rating on the shares. The firm notes the company reported solid Q3 EPS of 79c on solid revenues +14% year-over-year. Gross margin missed guidance/Street, but Credit Suisse thinks better-than-expected progress on inventory overrides a small GM miss in terms of de-risking the forward P&L.