Nike: after results, Susquehanna ups target price

(CercleFinance.com) - After Nike published compelling quarterly and annual results, the broker Susquehanna today announces that it has significantly raised its target price for the share from 64 dollars to 78 dollars.


Business in North America is gaining momentum, and the global outlook is improving as initiatives begin to bear fruit, the analyst points out.

On Thursday evening, Nike unveiled solid Q4 2017/2018 results (to end-May), with EPS up 15% at 69 cents, while on average analysts expected five cents less.

Q4 net profit reached 1.1 billion dollars, up 13%, while sales also rose 13% to 9.8 billion dollars.

However, Susquehanna maintains its Neutral rating on the stock.


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