Citi Reiterates Buy on Nike

Citi reiterated its Buy rating on Nike NKE. At the moment, Citi has a price target of $95 placed on the company's stock. In a research report published today, Citi states, "We reiterate our Buy as we believe NKE has solid long-term growth potential on renewed apparel performance, innovation driving footwear sales, strong ability to increase ASPs, direct to consumer strength, & supply chain/efficiencies. We think the current valuation is attractive and see significant upside potential over the next 12 months." On Monday, Nike closed the day at $83.23.