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Modest gains for Nike after Street digests FQ4

  • "Management left little doubt that momentum is continuing into the new fiscal year," writes Deutsche's David Weiner, reiterating a Buy on Nike (NKE +1.2%) following its FQ4 beat. He expects product innovation to allow the shoe giant to raise prices.
  • Likewise, Morgan Stanley's Jay Sole declares Nike "remains our top idea." He brushes off concerns about heavy spending, arguing it'll drive future top-line growth.
  • JPMorgan's Matthew Ross calls Nike's strong performance in North America, Europe, and China "a regional hat trick," while adding Chinese futures growth (+6% Y/Y) was the highest since FY12. Nike stated on its CC (transcript), the company asserted it's on track towards achieving its goal of "sustainable" double-digit Chinese growth.
  • Credit Suisse's Christian Buss (Neutral) is a little more cautious. Buss has cut his FY15 EPS forecast by $0.07 to $3.36, and thinks Nike's inventory growth (+13% Y/Y in FQ4, the highest rate in 2 years) bears monitoring.
  • Prior coverage
Comments (1)
  • chopchop0
    , contributor
    Comments (3122) | Send Message
     
    Glad i added in late under 72. Along with V, I expect continued great things out of this large-cap DJ growth company.
    27 Jun, 05:34 PM Reply Like
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