Goldman Sachs Resumes Coverage of Nike at “Buy” (NKE)

On Thursday, Goldman Sachs resumed coverage on Nike, Inc. (NKE) with a bullish rating, as the analysts expect the athletic footwear and apparel giant to be on the verge of multi-year growth.

The analysts rate NKE as “Buy” and see shares reaching $70. This target suggests about a 20% upside to Wednesday’s closing price of $58.45.

Nike, according to the Goldman analysts, is expected to see 18% to 20% EPS growth and 9% organic sales growth in 2014.

The analysts also expect Nike to return more cash to shareholders through dividends and share buybacks.

Nike shares were up 35 cents, or +0.60%, during pre-market trading on Thursday. The stock is up +8.83% over the past year.

The Bottom Line
Shares of Nike (NKE) have a dividend yield of 1.44% based on last night’s closing price of $58.45 and the company’s annualized dividend payout of 84 cents per share.

Nike, Inc. (NKE) is not recommended at this time, holding a Dividend.com 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.

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