Nike risk/reward unfavorable ahead of earnings, says Canaccord Canaccord believes the risk/reward for Nike looks unfavorable ahead of its earnings release on Thursday. The firm does not see any upward revisions to guidance coming and expects growth to be somewhat below the mid-teens range. Canaccord has a Hold rating with a $71 price target on Nike.
lululemon upgraded to Overweight from Neutral at JPMorgan JPMorgan upgraded lululemon (LULU) to Overweight saying its recent field work has indicated positive traffic and demand trends while management is laying the foundation for sustainable growth. The firm raised its price target for shares to $75 from $50. The retailer of athletic apparel closed yesterday up 90c to $63.76. JPMorgan notes that its $75 price target reflects a 20% discount to peers Nike (NKE) and Under Armour (UAUA).
Adidas wants to gain traction in U.S. market with endorsement deals, WSJ reports In a move to gain traction int he U.S. market, Adidas is planning to increase endorsement deals with professional football and baseball players in the U.S. in the next few years, The Wall Street Journal reports. Adidas North American President Mark King says the German sportswear maker's U.S. arm has approval to sign up to 250 NFL players and 250 MLB players over the next three years, up from a total of less than 40 right now. Reference Link