Nike Rallies to All-Time High

Yahoo Finance

Dow component Nike Inc. (NKE) is trading at an all-time high on Monday after beating Q2 2021 top and bottom line estimates by wide margins, posting a profit of $0.78 per-share on an 8.9% revenue increase to $11.24 billion.

Telsey Advisory Group analyst Joseph Feldman raised his target to $175 on Monday, noting that Nike “delivered another strong quarterly performance, helped by its powerful digital business, strong product innovation, and robust membership engagement. Importantly, given the Q2 2021 beat on sales, the company raised its full year revenue outlook for a second consecutive quarter.

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