JP Morgan Upgrades Nike to "Overweight" (NKE)

JP Morgan Upgrades Nike to “Overweight” (NKE)


Analysts at JP Morgan upgraded athletic apparel giant Nike, Inc. (NKE) on Monday citing an optimistic growth outlook despite some short-term headwinds.

The analysts upgraded NKE from “Neutral” to “Overweight.” They also increased its price target from $50 to $64. This new target suggests a 17% upside to Friday’s closing price of $54.59.

A JP Morgan analyst commented, “While near-term headwinds (2H13 pricing, labor, Int’l concerns) are worth noting, earnings visibility is improved (vs. 3 months ago) given (1) robust multi-year product pipeline (Free & Lunar w/Flyknit the next leg), (2) China roadmap firmly in place (11%) w/ signs of European stabilization (22%), and (3) laser focus on total shareholder returns (NT & LT profit balance w/ capital allocation levers). Just Do It! – Upgrade to Overweight.”

Nike shares were up $1.09, or +2.00%, during pre-market trading on Monday.

The Bottom Line
Shares of Nike (NIKE) have a dividend yield of 1.54% based on Friday’s closing price of $54.59 and the company’s annualized dividend payout of 84 cents per share.

Nike, Inc. (NKE) is not recommended at this time, holding a DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.

Free Updates

Join over 100,000 investors who get the latest news from

Best Dividend Stocks

Looking for stocks that are poised for growth and pay solid dividends? Visit our list of the:

Best Dividend Stocks

Partner Center

Best CD Rates

Sitting on some extra cash and looking for the most current and profitable CD Rates?

Get The Best CD Rates

14 Day Free Trial

Earn more from your dividend portfolio within the next 14 days.

Sign Up Today