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Susquehanna warns on basketball headaches for Nike

Published 09/19/2017, 09:03 AM
© Reuters.  Susquehanna warns on basketball headaches for Nike
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  • Susuquehanna lowers Nike (NYSE:NKE) to a Neutral rating from Buy on mounting concerns over weakness in the business.
  • The firm thinks the basketball category is a particular concern and could see excess inventory due to a lack of momentum (see Adidas (DE:ADSGN) basketball momentum).
  • Analyst Sam Poser lowers his estimates on Nike to FY18 F/X-neutral revenue growtt of +3.3% from +4.5%. The estimate on FY19 revenue goes down to +6.1% from +9.1%.
  • NKE -1.50% premarket to $52.70.
  • Now read: Nike: Not Expecting A Slam Dunk

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