Nike: shares up after broker raises target
(CercleFinance.com) - Nike shares are up 0.
6% on Monday, close to an all-time high, after Credit Suisse raised its price target on the US sports apparel maker.
The shares climbed to 87.7 dollars, a tad short of an all-time high of 88 dollars.
Credit Suisse raised its target price for the shares from 90 dollars to 100 dollars, while maintaining an "outperform" rating.
In a note to clients, the broker wrote that contacts suggest that Nike share gains are accelerating.
"We believe Nike is in the early innings of a durable global share acceleration that should continue into fiscal year 2020," it said.
Copyright (c) 2019 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.
6% on Monday, close to an all-time high, after Credit Suisse raised its price target on the US sports apparel maker.
The shares climbed to 87.7 dollars, a tad short of an all-time high of 88 dollars.
Credit Suisse raised its target price for the shares from 90 dollars to 100 dollars, while maintaining an "outperform" rating.
In a note to clients, the broker wrote that contacts suggest that Nike share gains are accelerating.
"We believe Nike is in the early innings of a durable global share acceleration that should continue into fiscal year 2020," it said.
Copyright (c) 2019 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.