Analyst Update: Nike Gets a Profit Target Lift

Argus adjusted its price target on NKE

Dec 26, 2014 at 9:21 AM

Nike Inc (NYSE:NKE) saw its price target lifted to $110 from $102 at Argus, which also reiterated its "buy" opinion. The bullish revision isn't unexpected, given the stock's 24% year-over-year advance to trade at $96.29. In fact, 12 of 21 analysts covering the shares have handed out a "buy" or better recommendation, compared to nine "holds" and not a single "sell." Additionally, NKE's consensus 12-month price target of $102 sits in yet-to-be-explored territory.

Short-term options traders, meanwhile, are skeptical. The equity's Schaeffer's put/call open interest ratio (SOIR) of 1.19 sits in the 86th percentile of its annual range, indicating near-term traders are more put-heavy than usual. Whatever your bias, now is an opportune time to buy Nike Inc's (NYSE:NKE) short-term options, as the stock's Schaeffer's Volatility Index (SVI) of 17% sits just 14 percentage points from a 12-month low.

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