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Fly News Breaks for March 22, 2019
NKE
Mar 22, 2019 | 06:34 EDT
JPMorgan analyst Matthew Boss views the post-earnings pullback today in shares of Nike as a buying opportunity. The 11% constant currency revenue growth in fiscal Q3 exceeded expectations and Nike posted its fourth consecutive double-digit gross profit dollar growth, Boss tells investors in a research note. Further, he points out management provided initial fiscal 2020 guidance calling for high-single-digit revenue growth and for "gross margin expansion and profitability in line with the long-term financial model." Boss keeps an Overweight rating on Nike shares.
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