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Forward View weighs in on Nike

Mar. 24, 2017 8:46 AM ETNIKE, Inc. (NKE) StockNKEBy: Clark Schultz, SA News Editor11 Comments
  • Forward View sizes up Nike (NYSE:NKE) after the company's FQ3 report sent shares lower earlier this week.
  • The firm calls Nike one of the few manufacturers with the breath and capacity to consistently grow its direct-to-consumer business.
  • "As traditional distribution channels suffer, especially in the apparel industry, Nike has an unparalleled opportunity for double-digit DTC revenue growth for years. Look for Nike’s less-important retail buyers to increasingly worry if they’ll become obsolete and whether or not Nike will allot merchandise for them," writes analyst Nathan Yates.
  • Nike is rated at Hold by Forward View and assigned a price target of $55 on concerns over the company hitting the consensus estimate with FQ4 EPS. The longer-term view on the Swoosh is more positive.

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