Nike (NKE) Stock: $155 Target And Buy Rating

By Amit Chowdhry ● Jul 5, 2022
  • The shares of Nike Inc (NYSE: NKE) have received a $155 price target from Guggenheim. These are the details.

The shares of Nike Inc (NYSE: NKE) have received a $155 price target from Guggenheim. And Guggenheim analyst Robert Drbul is maintaining a “Buy” rating on the shares.

Drbul adjusted the rating while noting that Nike reported the fiscal fourth quarter results ahead of his expectations. However, Drbul is reducing the 2023 EPS estimate to $3.75 from $4.15 to account for a cautious outlook on Nike’s higher-margin business in China and expectations of increased supply impacting full price realization. 

Going forward, Drbul does not believe Nike is immune from the challenges associated with COVID-19 and logistics pressures. But Drbul believes that many of these issues are transitory and this uncertainty provides a buying opportunity.

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.