Sat Sep 21 11:34:17 UTC 2024: ## Nike (NKE) Receives Buy Rating From Deutsche Bank, Analysts Remain Mixed

**New York, NY** – Deutsche Bank Aktiengesellschaft has reaffirmed its “buy” rating on shares of Nike (NYSE: NKE) in a research report published on Friday, according to Benzinga. The bank has set a price target of $92.00 for the footwear maker’s stock.

While Deutsche Bank remains bullish on Nike, other analysts have issued more cautious assessments. Daiwa America downgraded Nike from a “moderate buy” to a “hold” rating on September 11th.

Several analysts have adjusted their price targets on Nike in recent months. Evercore ISI lowered their target from $110.00 to $105.00 while maintaining an “outperform” rating, while Telsey Advisory Group reduced their target from $115.00 to $100.00 also maintaining an “outperform” rating. Barclays, however, increased their target price from $80.00 to $84.00 and assigned an “equal weight” rating. Finally, Truist Financial cut their price target from $99.00 to $81.00 and issued a “hold” rating.

Currently, 15 research analysts have rated the stock with a “hold” rating and 15 have assigned a “buy” rating. MarketBeat.com estimates that NIKE currently has an average rating of “Moderate Buy” and an average price target of $96.15.

Nike’s recent quarterly earnings report, released on June 27th, showed an earnings per share of $1.01, exceeding the consensus estimate of $0.85 by $0.16. Revenue for the quarter reached $12.60 billion, slightly below the consensus estimate of $12.86 billion.

Despite the mixed analyst sentiment, Nike remains a popular stock amongst institutional investors. Price T Rowe Associates Inc. MD increased their position in Nike by 87.5% during the fourth quarter, while Capital International Investors boosted their stake by 34.9%. Several other institutional investors, including Longview Partners Guernsey LTD, Capital World Investors, and Jennison Associates LLC, also increased their holdings in Nike in recent quarters.

Overall, analysts are currently divided on Nike’s future prospects. While some believe the company’s strong brand recognition and global reach will drive continued growth, others are concerned about the company’s recent revenue decline and potential challenges in a changing market.

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