Nike Has a 27% Upside Potential, New Analyst Says
Nike, Inc. (NYSE: NKE) has spiked this year to levels never seen before, but at least one analyst thinks it's heading even higher. KeyBanc initiated its coverage of the athletic manufacturer today with an upbeat bull case, assigning a $174 price target which is more than 27% higher than the $136 to $137 Nike's shares are valued at in Friday morning trading today.
Analyst Matthew DeGulis said in his research note Nike "is near all-time highs, but we think the company's scale and investments in 2x speed will ensure more full-priced sales and its digital shift will enable long-term revenue and margin growth." KeyBanc's bullish assessment of the footwear giant and its price target are based around the assertion that Nike's move toward e-commerce isn't yet fully realized in its actual share price.
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Source Fool.com
