Nike "buy"

09/17/04 - D.A. Davidson & Co.

NEW YORK, September 17 (newratings.com) - Analyst Mitch Kummetz of DA Davidson maintains his "buy" rating on Nike Inc (NKE). The target price is set to $91.

In a research note published yesterday, the analyst mentions that the company is scheduled to post its F1Q05 results on September 20. The analyst expects Nike to post a 15% y-o-y increase in its sales for the quarter, with the gross margins expanding by 30bp. According to DA Davidson, the company is likely to have witnessed mid-single digit order growth during the quarter.