(News Bulletin 247) – Wedbush reaffirms its ‘outperformance’ opinion on Nike with a price target raised from 120 to 125 dollars, the day after a quarterly publication which led the broker to slightly raise its EPS expectations for the 2023 and 2024.
‘Nike remains one of the strongest brands in our coverage, and after transitory headwinds, we believe the arrows are pointing in the right direction again (stocks peak past, growth resuming in China)’ he.
“Given that it is a key barometer for the field, we believe that other names could open higher today, particularly those in sports equipment (including Foot Locker),” continues Wedbush.
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