Nike: Jefferies raises its target price

(CercleFinance.com) - While maintaining its 'hold' position on Nike, Jefferies raises its price target from $80 to $85, 'on a higher valuation multiple to reflect a positive change in leadership' at the head of the sporting goods group.


'We believe that investor expectations for the first accounting quarter are quite low, as attendance data remained weak and competitors continue to gain market share', the broker judges.

With a new CEO due to take office on October 14, his impact may not bear fruit until fiscal 2026', warns Jefferies, for whom the Nike share, in 'no man's land', will probably veg in a range for many quarters'.

Copyright (c) 2024 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.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.