Nike Gets a Hold Rating from Wells Fargo

By Ryan Adsit

In a report released yesterday, Tom Nikic from Wells Fargo maintained a Hold rating on Nike (NYSE: NKE). The company’s shares closed yesterday at $71.70, close to its 52-week high of $75.91.

According to TipRanks.com, Nikic is ranked #4330 out of 4825 analysts.

Nike has an analyst consensus of Moderate Buy, with a price target consensus of $76.27, representing a 6.4% upside. In a report issued on June 21, UBS also downgraded the stock to Hold with a $78 price target.

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Based on Nike’s latest earnings release for the quarter ending February 28, the company reported a quarterly revenue of $8.98 billion and GAAP net loss of $921 million. In comparison, last year the company earned revenue of $8.68 billion and had a net profit of $1.01 billion.

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