Nike (NKE) Price Target Raised to $95 at Deutsche Bank

Deutsche Bank maintained a Buy rating on Nike (NYSE: NKE) and raised its price target to $95.00 (from $90.00). Analyst Dave Weiner called its Q1 "impressive on all fronts."

"Beyond a strong F1Q which soundly beat the high-end of expectations, NKE stock remains interesting as we get a more visible roadmap in to how the P&L returns to peak(+) historic operating margin. With current LTM OM at 13.4%, we think that there are plenty of drivers to return, and possibly surpass the 14.3% realized in FY11 (May 2011). Assisting of course is impressive top-line momentum (+15% y/y cc in 1Q, +LDD% 2Q plan, Futures of +14%, & +LDD% FY plan) which is cleaning house globally, particularly in Basketball, women’s, and DTC. While NTM P/E of 22.7x sits above the 3Y avg. of 20.4x, brand/sector momentum & the potential for peak(+) OM frames enthusiasm," said Weiner.

For an analyst ratings summary and ratings history on Nike click here. For more ratings news on Nike click here.

Shares of Nike closed at $79.75 yesterday.

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