Nike’s Q3 Results Are Good, But Puma Looks Better
Veronique Adam submits:
Stock price: $74.2
Conclusion: Good resistance in Q3. We are slightly upgrading our valuation range to $72-$77 in light of improved worlwide future orders. Nonetheless, our pricing range suggests that Nike (NKE) stock price looks close to its fair value.
Q3 results: sales up 7% reported (+2% organic-down 3% 9m), EPS adjusted up 2%, slightly down 9m. Guidance F10: Revenue slightly below last year levels, higher gross margin, low single digit increase in SG&A.
Investing, Long Term Investment, stock market | admin March 25, 2010
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