Texas Seeking Basketball Coach Kentucky-Notre Dame Sets TBS Viewership Record Workers' Union Advocates For MiLBers' Wages Social Media Pick Of The Weekend.... MLB, MLBPA To Consider Player-Health Combine Mexico Friendly Draws 88K In L.A. Obama Golfs With Mourning, Rashad Daktronics Lands Vikings Stadium Contract IndyCar Season Starts In St. Pete Las Vegas NHL Group Expands Ticket Sales
Nike stock value was examined by MA-based Dreman Value Management Money Manager John Dorfman for BLOOMBERG BUSINESS NEWS. Dorfman noted that Nike has seen its stock fall 20% this year, and that with Standard & Poor's 500 up about 33% for the year, Nike has trailed the market by some 53 percentage points -- "a truly awful performance." Sands Brothers & Co's Brad Cohen last week "slapped a 'sell' recommendation" on Nike. Cohen doesn't think the stock will be a "timely purchase" for another 12-24 months, though he said he might reconsider if the stock drops below $44. Currently, it's trading between $47 and $48. Dorfman reported that analytical opinion "is pretty evenly split on Nike," noting that the Bloomberg recommendation database shows 13 "buy" recommendations, nine "holds" and two "sells." Dorfman concluded that Nike "will show zero growth in earnings" for the current FY, with "about" 15% growth next year. Dorfman: "So is the stock cheap enough to buy? Not for me. My job is to try to buy stocks when they're unreasonably cheap" (BLOOMBERG NEWS/SEATTLE TIMES, 12/7).