Nike: Susquehanna raises target price before results
(CercleFinance.com) - Broker Susquehanna has reinstated its "positive" recommendation on Nike, raising its target price from 93 dollar to 100 dollars, with the sporting goods maker due to report its first quarter results on Tuesday.
The trend in shoe sales is improving, while clothing sales are even more dynamic, the broker said, with it also highlighting the group's recent marketing campaign, boosted by a compelling product portfolio.
Susquehanna expects Q1 EPS of 64 cents, with sales up 10.8% as reported (+11% at constant exchange rates), against respective consensus of 62 cents and 8.5%.
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