Nike Stock has Little Upside, According to 1 Wall Street Analyst [Yahoo! Finance]
Deckers Outdoor Corporation (DECK)
Last deckers outdoor corporation earnings: 1/30 04:05 pm
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Source: Yahoo! Finance
Several analysts covering the stock simply reiterated their forecasts after the footwear giant revealed weak sales trends. But Nike also attracted a significant downgrade from one analyst. Let's look at why the analyst sees almost no upside potential for the stock over the next year. If the shoe fits An analyst at RBC Capital lowered the agency's rating on the stock to a hold from a buy following the Q3 earnings report. RBC reduced its 12-month price target on Nike shares as well, down to $100 per share from $110 per share. Given that the stock was trading at about that level before the earnings report, this suggests little room for growth in Nike's stock over the short term. Shares currently trade at about $94. It's true that Nike's earnings update left a lot to be desired. Sales were essentially flat in Q3. That result stands in contrast to footwear industry peers like Deckers Outdoor , which saw strong growth in the most recent quarter. The lack of analyst enthusiasm likely
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