3/22 Analyst actions
Nike (NKE / NYSE)
Bank of America Montgomery
Increasing 2002 EPS estimate by $0.02 to $2.44 and 2003 EPS estimate by $0.05 to $2.83 to reflect strong cash flow, lower interest cost, and over-conservative sales estimates. Price target of $73.
Nike (NKE / NYSE)
Lehman Bros
Raising EPS estimates to $2.44 in fiscal 2002 and $2.80 for next year, following the company's strong quarterly results. Reiterate Strong Buy rating and $70 price target.
Nike (NKE / NYSE)
NEWS
NKE reported third quarter earnings of 46 cents per share, above the Street estimate of 45 cents, and 31% above the year-ago figure of 35 cents. Revenues came in at $2.26 billion, the shy end of analyst forecasts, but a 4% rise from the $2.17 billion in the third quarter of 2001. Furthermore, worldwide futures orders for athletic footwear and apparel, scheduled for delivery between March and July 2002, totaling $4.0 billion, is six percent higher than such orders reported for the same period last year.
Nike (NKE / NYSE)
Warburg Dillon Read
Raising EPS estimates to $2.45 in fiscal 2002 and $2.75 for next year, after the company's strong quarterly results. Maintain Hold rating though, as we believe NKE will face an increasingly competitive environment in the near future.
Jack |
