Nike (NKE) Gets a Hold Rating from Wells Fargo

Wells Fargo analyst Tom Nikic maintained a Hold rating on Nike (NKEResearch Report) today and set a price target of $87.00. The company’s shares closed last Monday at $65.96, close to its 52-week low of $65.16.

According to TipRanks.com, Nikic is a 1-star analyst with an average return of -11.7% and a 38.9% success rate. Nikic covers the Services sector, focusing on stocks such as Dick’s Sporting Goods, Designer Brands, and Boot Barn.

Currently, the analyst consensus on Nike is a Strong Buy with an average price target of $108.50, implying a 66.2% upside from current levels. In a report issued on March 13, Deutsche Bank also downgraded the stock to Hold with a $80.00 price target.

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Nike’s market cap is currently $117.7B and has a P/E ratio of 26.48. The company has a Price to Book ratio of 12.60.

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