Pivotal Research Believes Nike (NYSE: NKE) Won’t Stop Here

Pivotal Research analyst Mitch Kummetz reiterated a Buy rating on Nike (NKEResearch Report) today and set a price target of $160.00. The company’s shares closed last Thursday at $137.58, close to its 52-week high of $137.95.

According to TipRanks.com, Kummetz is a 4-star analyst with an average return of 13.3% and a 64.3% success rate. Kummetz covers the Consumer Goods sector, focusing on stocks such as Wolverine World Wide, Columbia Sportswear, and Deckers Outdoor.

Nike has an analyst consensus of Strong Buy, with a price target consensus of $149.64, which is an 8.2% upside from current levels. In a report issued on December 8, Morgan Stanley also maintained a Buy rating on the stock with a $165.00 price target.

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Nike’s market cap is currently $215.4B and has a P/E ratio of 82.30. The company has a Price to Book ratio of 25.02.

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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.