Nike, Inc. (NYSE:NKE) is one of the top Robinhood stocks with high potential. On March 19, UBS reiterated a Neutral rating on Nike Inc. (NYSE:NKE) but cut the price target to $58 from $62. The price cut is in response to the company’s weak global sales momentum. Consequently, it expects the company to deliver third-quarter earnings in line with estimates.
UBS Wary of Nike Inc. (NKE)’s Weak Global Sales but Barclays Confident of Bounce Back
On the other hand, UBS expects Nike to deliver fourth-quarter earnings per share in the range of 3 cents to 18 cents. The EPS guidance would be below consensus estimates of 23 cents per share. In addition, it does not expect the company’s fourth-quarter outlook to show any meaningful quarter-over-quarter improvement in sales growth. It expects the company to project sales growth decline in the low single digits, slightly better than its estimate of 3% decline.
Earlier on March 11, Barclays upgraded Nike to Overweight and hiked the price target to $73 from $64. The upgrade underscores the research firm’s confidence about the company’s turnaround following the recent slump. According to Barclays, investor sentiment has reached peak skepticism about the company’s financials, hitting a fundamental bottom. Therefore, recent operational progress, financial inflections, and management’s disciplined action could trigger a reset.
Nike Inc. (NYSE:NKE) designs, develops, markets, and distributes athletic footwear, apparel, equipment, and accessories for sports and fitness. Based in Beaverton, Oregon, it is a global leader in athletic innovation, creating products for basketball, running, football, and golf. The company operates under a mission to bring innovation to every athlete.
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