Nike: Susquehanna remains neutral; raises target price
(CercleFinance.com) - Susquehanna maintains a "neutral" rating on Nike, with the world's biggest athletic shoe and clothing maker set to report its third-quarter earnings on 22 March.
The broker has, however, lifted its target price for the share from 57 dollars to 60 dollars.
In a note sent to clients, the broker said it prefers to remain on the sidelines, pending better visibility.
In the report, Susquehanna pointed out that Nike needs growth in North America to achieve its 50 billion dollar revenue target for fiscal year 2022.
"Nike's biggest challenge in North America will be keeping its brand sacrosanct while, at the same time, aggressively scaling new platforms to more than offset declining legacy platforms," it wrote in the report.
"Nike's ability to meet such a challenge remains in question," Susquehanna said, adding that visibility in North America remains "low."
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
The broker has, however, lifted its target price for the share from 57 dollars to 60 dollars.
In a note sent to clients, the broker said it prefers to remain on the sidelines, pending better visibility.
In the report, Susquehanna pointed out that Nike needs growth in North America to achieve its 50 billion dollar revenue target for fiscal year 2022.
"Nike's biggest challenge in North America will be keeping its brand sacrosanct while, at the same time, aggressively scaling new platforms to more than offset declining legacy platforms," it wrote in the report.
"Nike's ability to meet such a challenge remains in question," Susquehanna said, adding that visibility in North America remains "low."
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.