On Thursday, Goldman Sachs resumed coverage on Nike, Inc. (NKE) with a bullish rating, as the analysts expect the athletic footwear and apparel giant to be on the verge of multi-year growth.
The analysts rate NKE as “Buy” and see shares reaching $70. This target suggests about a 20% upside to Wednesday’s closing price of $58.45.
Nike, according to the Goldman analysts, is expected to see 18% to 20% EPS growth and 9% organic sales growth in 2014.
The analysts also expect Nike to return more cash to shareholders through dividends and share buybacks.
Nike shares were up 35 cents, or +0.60%, during pre-market trading on Thursday. The stock is up +8.83% over the past year.
The Bottom Line
Shares of Nike (NKE) have a dividend yield of 1.44% based on last night’s closing price of $58.45 and the company’s annualized dividend payout of 84 cents per share.
Nike, Inc. (NKE) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
Nasdaq quotes delayed at least 15 minutes, all others at least 20 minutes.
Markets are closed on certain holidays. Stock Market Holiday List
By accessing this page, you agree to the following
Press Release Service provided by PRConnect.
Stock quotes supplied by Telekurs USA
Postage Rates Bots go here