Nike Exec Said Member Engagement Within DTC Business Up Double Digits Vs Last Year, With Increasing Average Order Values; Saw High Single-digit To Low Double-digit Retail Sales Growth And Strong Inventory Management With Many Key Wholesale Partners.
Nike (NKE) reported fiscal Q1 earnings Thursday of $0.94 per diluted share, up from $0.93 per diluted share a year earlier. Analysts polled by Capital IQ expected $0.76. Revenue for the quarter ended Aug. 31 was $12.94 billion, up from $12.69 billion a year earlier. Analysts surveyed by Capital IQ expected $13 billion.
Piper Sandler analyst Arvind Ramnani maintains Accenture (NYSE:ACN) with a Neutral and lowers the price target from $312 to $300.
Deutsche Bank analyst Gabriella Carbone maintains Nike (NYSE:NKE) with a Buy and raises the price target from $122 to $125.
Citigroup analyst Jon Tower maintains Domino’s Pizza (NYSE:DPZ) with a Neutral and lowers the price target from $431 to $398.
JPMorgan analyst Matthew Korn maintains Nike (NYSE:NKE) with a Overweight and Raises the price target from $136 to $137.
Raymond James analyst Gary Nachman initiates coverage on AbbVie (NYSE:ABBV) with a Outperform rating and announces Price Target of $177.
Raymond James analyst Patrick Tyler Brown maintains United Parcel Service (NYSE:UPS) with a Strong Buy and lowers the price target from $205 to $200.
Piper Sandler analyst Patrick Moley maintains Cboe Global Markets (BATS:CBOE) with a Overweight and raises the price target from $160 to $174.
Disney’s performance in 4Q appears to be a continuation of recent trends, say analysts at BofA Securities in a research note. Advertising is improving sequentially but not necessarily rebounding, while theme park trends overall remain healthy. The entertainment giant’s short dispute with Charter Communications should have a minimal impact. “FY24 outlook is clearly more positive as it will reflect solid underlying momentum at parks and continued improvement in losses at DTC, ” say the analysts. CEO Bob Iger has made a lot of progress in his first year back, but more is needed in the second year. The analysts believe the near-term strategic priorities include NBA contract renewal, bringing in a strategic partner or partners for ESPN, settling streaming service Hulu’s ownership and any potential asset sales or restructuring.