Driving Nike's Competitive Edge: Analyst Highlights Industry-Leading Growth And Ad Spend
Portfolio Pulse from Nabaparna Bhattacharya
BMO Capital Markets analyst Simeon Siegel reiterated an Outperform rating on Nike, Inc. (NYSE:NKE) with a price target of $110. Siegel believes Nike's size and budget are key long-term competitive advantages. The analyst expects ongoing gains for Nike, with a FY25 EPS estimate forming the basis for the $110 target price. However, Siegel also noted a negative inflection in Footwear Units and worsening Apparel Unit declines, which could weigh down EBIT margin.
October 10, 2023 | 6:44 pm
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Nike's stock could be positively impacted by the reiterated Outperform rating and $110 price target from BMO Capital Markets. However, concerns about declining Footwear and Apparel Units could potentially weigh on the stock.
The Outperform rating and $110 price target from BMO Capital Markets analyst Simeon Siegel could boost investor confidence in Nike, potentially driving the stock price up. However, Siegel's concerns about declining Footwear and Apparel Units could create some uncertainty, potentially limiting the stock's upside.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100