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NKE

Nike

$76.41

-0.15 (-0.20%)

, LULU

Lululemon

$131.62

-4.38 (-3.22%)

06:59
01/11/19
01/11
06:59
01/11/19
06:59

Nike, Lululemon, Tapestry managing China risks well, says Oppenheimer

Oppenheimer analyst Brian Nagel said that after reviewing recent data from China, he believes brands in the retail space are managing their China risks well. Underlying demand for fashion and luxury goods by increasingly affluent Chinese consumers appears solidly intact, Nagel tells investors in a research note, calling out Nike (NKE), which reported on December 20 and noted continued momentum in China. Nagel says he also continues to to recommend Lululemon (LULU) and Tapestry (TPR).

NKE

Nike

$76.41

-0.15 (-0.20%)

LULU

Lululemon

$131.62

-4.38 (-3.22%)

TPR

Tapestry

$36.10

-0.91 (-2.46%)

  • 14

    Jan

  • 14

    Jan

  • 14

    Jan

  • 15

    Jan

  • 03

    Mar

NKE Nike
$76.41

-0.15 (-0.20%)

01/09/19
01/09/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Nike (NKE) downgraded to Neutral from Outperform at Baird with analyst Jonathan Komp citing its relative valuation and concerns about its high P/E premium. 2. Oracle (ORCL) downgraded to Equal Weight from Overweight at Barclays with analyst Raimo Lenscho saying the competitive situation in the company's core database market and cloud is "not getting easier." 3. Wendy's (WEN) downgraded to Neutral from Outperform at Wedbush. 4. Booking Holdings (BKNG) downgraded to Equal Weight from Overweight at Morgan Stanley and to Hold from Buy at Jefferies. 5. United Continental (UAL) downgraded to Underperform from In-Line at Imperial Capital while Delta Air Lines (DAL) was downgraded to In-Line from Outperform. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
01/10/19
NEED
01/10/19
UPGRADE
NEED
Buy
Nike upgraded to Buy from Hold at Needham
01/10/19
NEED
01/10/19
UPGRADE
Target $85
NEED
Buy
Nike upgraded to Buy from Hold at Needham
Needham analyst Rick Patel upgraded Nike to Buy with a price target of $85, saying the likelihood of "robust sales growth and margin expansion" from the company's "strategic initiatives" is increasingly clear. The analyst notes that Nike Direct is a particularly strong "sales driver", improving the company's revenue realized per user and also giving Nike the ability to "better engage customers with differentiated marketing." Patel also cites the company's growing focus on international, women's, and the wholesale channel segment opportunities leading to further new customer growth.
01/09/19
01/09/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Nike (NKE) upgraded to Buy from Hold at HSBC. 2. Bank of America (BAC) upgraded to Buy from Hold at Edward Jones and to Buy from Neutral at UBS. 3. Wendy's (WEN) upgraded to Outperform from Perform at Oppenheimer with analyst Brian Bittner saying his work reveals an "intriguing setup" as Street's earnings and free cash flow estimates through 2020 have reset to levels that create an improved scenario for meets or beats, same-store sales appear to have drivers to accelerate into 2019 against conservative sell-side forecasts of sub-2% perpetually, new international strategy could unlock faster-than-expected long-term unit growth, and valuation at about 8% free cash flow yield implies very attractive upside/downside case against a highly stable financial model. 4. Akamai (AKAM) upgraded to Overweight from Sector Weight at KeyBanc with analyst Brandon Nispel saying his data tracker suggests upside to Q4 revenue, decreasing the risk to a Q1 and 2019 guide below expectations. 5. Foot Locker (FL) upgraded to Outperform from Neutral at Baird with analyst Jonathan Komp citing its relative valuation and strong backward looking indicators providing reason for optimism. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
LULU Lululemon
$131.62

-4.38 (-3.22%)

01/09/19
BUCK
01/09/19
UPGRADE
BUCK
Buy
Lululemon upgraded to Buy from Neutral at Buckingham
01/09/19
BUCK
01/09/19
UPGRADE
Target $157
BUCK
Buy
Lululemon upgraded to Buy from Neutral at Buckingham
As previously reported, Buckingham analyst Eric Tracy upgraded Lululemon (LULU) to Buy from Neutral and raised his price target to $157 from $151. In a research note to investors, Tracy says that while trade and tariff legislation and central bank uncertainty remain, a recent sharp share retrenchment across the Global Branded Apparel, Footwear and Retail Coverage largely bakes in these risks and broadly improves the sector's risk/rewards, creating an opportunity to get more constructive on select growth stories like Lululemon. Tracy says he believes the "superior" fundamental algorithm supports premium valuation, though he recognizes that potentially "stiffening" compares and multiple compression risk remains. The analyst also upgraded Ralph Lauren (RL) to Buy from Neutral this morning.
01/02/19
WELS
01/02/19
NO CHANGE
Target $175
WELS
Outperform
Lululemon price target lowered to $175 from $200 at Wells Fargo
Wells Fargo analyst Ike Boruchow lowered his price target for Lululemon to $175 from $200, while reiterating an Outperform rating on the shares. In a research note titled "2019 Retail Outlook report," the analyst says he believes Holiday reads likely slowed post Black Friday, Multinational brands struggled relative to retailers the past several months as concerns around Europe weakness, China uncertainty, a slowdown in tourism and FX pressures are growing, e-commerce meaningfully underperformed Brick and Mortar retail in 2018 as inflated multiples have been hit hard in the face of a painful tech ''unwind'' and choppier fundamentals, 2019 is likely to be worse than 2018 for the space, and Leases are coming onto retailers' balance sheets in 2019, making for worse capital structure optics.
01/10/19
MKMP
01/10/19
NO CHANGE
Target $177
MKMP
Buy
Lululemon to see growing momentum in 2019, says MKM Partners
MKM Partners analyst Roxanne Meyer kept her Buy rating and $177 price target on Lululemon, saying the findings of her proprietary survey ahead of ICR conference support her positive view. The analyst notes that the data implies strong new customer growth and a "highly favorable" results in the holiday period sales. Meyer further states that after a "inflection" 2018 year, the company should build on its momentum in 2019 with "strong new customer acquisition, product innovation, supply chain benefits, technology implementation and management execution". The analyst added that the 15.8% decline in its stock price since September highs has made Lululemon "one of the most attractive stocks in retail".
TPR Tapestry
$36.10

-0.91 (-2.46%)

01/02/19
BOFA
01/02/19
NO CHANGE
BOFA
Top 10 US Ideas for Q1 2019 at BofA/Merrill
BofA/Merrill's Alpha Generation Research team introduced its latest Top 10 US Ideas for Q1 2019. The list consists of 9 Buys that are Cigna (CI), Disney (DIS), Equinix (EQIX), Honeywell (HON), Lockheed Martin (LMT), Marvell (MRVL), Procter & Gamble (PG), AT&T (T), and Tapestry (TPR) and 1 Underperform rating which is Campbell Soup (CPB).
01/11/19
LEHM
01/11/19
UPGRADE
Target $47
LEHM
Overweight
Tapestry upgraded to Overweight from Equal Weight at Barclays
Barclays analyst Chethan Mallela upgraded Tapestry to Overweight while lowering his price target for the shares to $47 from $51.
01/04/19
LOOP
01/04/19
NO CHANGE
Target $36
LOOP
Hold
Tapestry price target lowered to $36 from $44 at Loop Capital
Loop Capital analyst Laura Champine lowered her price target on Tapestry to $36 and kept her Hold rating, modeling a more conservative rate of revenue growth for the company over the near term. The analyst also lowers her FY19 EPS view by 17c to $2.61 to reflect her reduced forecast of Coach brands comps at 1% vs. 3% prior view. Champine attributes the slower growth grade to the economic slowdown in Asia, particularly China, and some "modest market share losses" in the U.S.
01/02/19
WELS
01/02/19
NO CHANGE
Target $45
WELS
Outperform
Tapestry price target lowered to $45 from $58 at Wells Fargo
Wells Fargo analyst Ike Boruchow lowered his price target for Tapestry to $45 from $58, while reiterating an Outperform rating on the shares. In a research note titled "2019 Retail Outlook report," the analyst says he believes Holiday reads likely slowed post Black Friday, Multinational brands struggled relative to retailers the past several months as concerns around Europe weakness, China uncertainty, a slowdown in tourism and FX pressures are growing, e-commerce meaningfully underperformed Brick and Mortar retail in 2018 as inflated multiples have been hit hard in the face of a painful tech ''unwind'' and choppier fundamentals, 2019 is likely to be worse than 2018 for the space, and Leases are coming onto retailers' balance sheets in 2019, making for worse capital structure optics.

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