NKE - Nike's Set Up For Q2 Remains More Balanced: Analyst Sees Less Negative Retailer Commentary | Benzinga
RBC Capital Markets analyst Piral Dadhania reiterated the Outperform rating on Nike, Inc. (NYSE: NKE), raising the price target to $127 from $120.
Nike has been one of the best performing stocks under the analyst's coverage L3M (+18%), largely driven by valuation re-rating as sentiment has turned less negative.
As a result, the risk/reward heading into 2Q24 results print is more balanced than the prior print, the analyst writes.
Expectations are slightly higher, particularly as FY24E current guidance implies healthy P&L acceleration (revenue growth and gross margin) in 2H24E, which remains a key feature for ...