Jim Duffy of Stifel maintained a Buy rating on shares of Nike Inc (NYSE: NKE) Friday while raising the price target to $110 from a previous $100 ahead of the company's second quarter results on December 18.
According to Duffy, Nike's fundamentals remain a “standout” within the consumer discretionary space given strong demand for performance athletic wear.
“A key thesis of ours is that strong lifestyle brands have opportunity to capture both more share and more margin with well executed direct to consumer strategies,” Duffy wrote. “This is being compounded by the rapid pace at which consumers are embracing ecommerce and we expect Nike remains a prime beneficiary.”
Finally, Duffy states that shares of Nike should be viewed as a “solid core holding” heading in to 2015 as fundamentals remain strong and shares deserve to continue trading at a premium multiple.
Latest Ratings for NKE
| Dec 2014 | Credit Suisse | Maintains | Outperform | |
| Nov 2014 | Deutsche Bank | Maintains | Buy | |
| Nov 2014 | BB&T Capital | Initiates Coverage on | Hold |
View More Analyst Ratings for NKE
View the Latest Analyst Ratings
See more from Benzinga
-
Highlights From Bank Of America's Roosevelt Field Holiday Mall Tour
-
Bank Of America On Finish Line: 'Trends Healthy, But Promos Upticking'
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.