Pivotal Research Believes Nike (NYSE: NKE) Still Has Room to Grow

In a report released today, Mitch Kummetz from Pivotal Research reiterated a Buy rating on Nike (NKEResearch Report), with a price target of $160.00. The company’s shares closed last Friday at $137.28, close to its 52-week high of $141.14.

According to TipRanks.com, Kummetz is a 4-star analyst with an average return of 12.8% and a 63.2% success rate. Kummetz covers the Consumer Goods sector, focusing on stocks such as Wolverine World Wide, Columbia Sportswear, and Deckers Outdoor.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Nike with a $154.18 average price target, implying a 9.3% upside from current levels. In a report issued on December 11, KeyBanc also initiated coverage with a Buy rating on the stock with a $174.00 price target.

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The company has a one-year high of $141.14 and a one-year low of $60.00. Currently, Nike has an average volume of 6.45M.

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NIKE, Inc. engages in the design, development, marketing, and sale of athletic footwear, apparel, accessories, equipment, and services. It operates through the following segments: North America; Europe, Middle East & Africa; Greater China; Asia Pacific & Latin America; Global Brand Divisions; Converse; and Corporate. The North America; Europe, Middle East & Africa; Greater China; and Asia Pacific & Latin America segments refers to the design, development, marketing, and selling of athletic footwear, apparel, and equipment. The Global Brand Divisions represents NIKE Brand licensing businesses. The Converse segment designs, markets, licenses, and sells casual sneakers, apparel, and accessories. The Corporate segment consists of unallocated general and administrative expenses. The company was founded by William Jay Bowerman and Philip H. Knight in 1964 and is headquartered in Beaverton, OR.