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Fly News Breaks for September 13, 2017
Sep 13, 2017 | 07:24 EDT
Deutsche Bank analyst Paul Trussell lowered his price target for Nike shares to $61 after cutting his FY18 earnings per share estimate to $2.28 from $2.3.7 and FY19 earnings estimate to $2.61 from $2.76. The analyst reduced his valuation multiple to reflect further revenue and margin pressure, particularly in North American. The analyst, however, sees a stronger 2018 for Nike and continues to recommend the shares with a Buy rating.
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