Nike: shares outperform after broker comments

(CercleFinance.com) - Nike shares are up slightly on Tuesday morning after a broker made positive comments about the stock.


This morning Credit Suisse initiated coverage of the share with an "outperform" rating and a target price of 78 dollars.

The broker cited optimism on accelerating revenues - on the back of the upcoming World Cup - coupled with an improving gross margin.

Nike shares are hence up 0.3% at 67 dollars, outperforming the S&P 500 index, which is up just 0.1%.

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