Nike Inc NKE reported Q4 EPS of $0.55, topping consensus expectations of $0.49. The company also reported Q4 revenue of $8.0 billion, slightly below consensus expectations of $8.2 billion.
Nike shares are down about 4.5 percent in early Wednesday trading, but the revenue miss didn’t dampen Wall Street’s spirits when it comes to Nike. Here’s a look at what nine top firms have to say about Nike following its report.
Analyst Edward Plank said, “Strong underlying demand coupled with a compelling slate of new product innovations and sporting events over the course of the year continue to fuel our optimism.”
Jefferies maintains its Buy rating but has lowered its price target from $76 to $74.
Analyst Jim Duffy remains “confident in sightlines to high single/low double-digit revenue growth and margin expansion in FY17 and we continue to view NIKE as a solid core holding for long-term investors.”
Stifel maintains its Buy rating and $73 price target.
Bank of America
Analyst Robert Ohmes noted, “Nike shares reacted negatively to guidance in aftermarket trading, however, we believe the outlook is conservative.”
Bank of America maintains its Buy rating and $72 price target.
Analyst Eric Tracy continues to believe…
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