NKE - Is Nike's Gross Margin Silver Lining Enough? BofA Analyst Forecasts 15% EPS Growth But Remains Neutral | Benzinga
BofA Securities analyst Lorraine Hutchinson reiterated Nike Inc (NYSE: NKE) with a Neutral rating and lowered the price target from $125 to $110.
The analyst thinks upward estimate revisions are unlikely, as uncertainty in China and the challenging U.S. wholesale environment are offsets to potentially stronger gross margins.
The analyst forecasts 1Q EPS of $0.70, in line with implied guidance but below Visible Alpha consensus of $0.76.
The analyst’s F24 EPS of $3.71 implies 15% EPS growth and assumes improving fundamentals ...