Credit Suisse Reiterates Outperform, Raises PT On Nike As Underlying Demand Is Healthy

In a report published Friday, Credit Suisse analyst Christian Buss reiterated an Outperform rating on Nike Inc (NYSE: NKE), and raised the price target from $99.00 to $106.00.

In the report, Credit Suisse noted, "Nike continues to manage its business exceptionally well, with revenue and earnings solid in F3Q, underlying futures growth remaining in the double-digits, and preliminary guidance for FY16 suggesting effective management of heavy currency headwinds. We continue to see ample opportunity for Nike to drive sustainable EPS growth at a teens rate, as high-single digit revenue growth is combined with margin expansion led by the global rollout of category offense. We raise our target price to $106 from $99 and reiterate our Outperform rating."

Nike closed on Thursday at $98.32.