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Nike Soars on 4Q17 Earnings Beat, Solid Guidance

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Part 6
Nike Soars on 4Q17 Earnings Beat, Solid Guidance PART 6 OF 6

No Rating Changes after Nike’s Fiscal 4Q17 Results

Recent analyst actions on Nike

Nike’s (NKE) fiscal 4Q17 results were released on June 29 and sparked a couple of target price revisions from Wall Street analysts.

On June 30, Deutsche Bank raised its price target on the stock from $63 to $69, stating, “We can all breathe a sigh of relief” after Nike’s fiscal 4Q17 results. Analyst Paul Trussell reiterated a “buy” rating on the stock. UBS raised target price to $64 from $62, maintaining its “buy” rating, and Telsey Advisory updated its price target to $63 from $62, maintaining its “outperform” rating on Nike.

No Rating Changes after Nike’s Fiscal 4Q17 Results

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Nike is covered by 35 analysts and has a “buy” recommendation from 60% of them. By comparison, Under Armour (UAA), Columbia Sportswear (COLM), and Lululemon Athletica (LULU) have “buy” ratings from 24%, 47%, and 43% of their analysts, respectively.

While 37% analysts suggest a “hold” for Nike stock, only 3% have given a “sell” rating. Under Armour has the highest proportion of “sell” recommendations at ~18%.

Ratings

Nike has received an overall 2.2 rating on a scale of 1.0 (strong buy) to 5.0 (sell). This is higher than the ratings of Lululemon, Columbia Sportswear, and Under Armour, which come in at 2.5, 2.3, and 2.9, respectively.

Target price

The average 12-month price target for Nike is $61.04. This indicates an upside of ~3% over the next year. Nike now has a better upside than Under Armour and Lululemon Athletica. The stock price of UAA is projected to fall 2%, while LULU is expected to rise 2%.

Remember, ETF investors looking to add exposure to NKE can consider the SPDR Consumer Discretionary Select Sector ETF (XLY), which invests 3% of its total portfolio in NKE.

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