TPG Takes 53% Majority Stake In CAA Overseas Group Launching Bid To Buy Reebok Converse Suing Over Chuck Taylor Copycats Nike Sees 3D Printing As Innovative Tool Adidas Makes Waves With Shoe Hires Nike Golf President Cindy Davis Steps Down ISC's Q3 Revenues Jump 11% Oyo Sports Gets $11M Equity Infusion Adidas Struggling In U.S. Market Nike Leaving Snowboarding, Freeskiing Industry
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CAN NIKE KEEP LONG-TERM GROWTH PROSPECTS ON SCHEDULE?
Published March 2, 1998
The value of Nike's stock was examined by PBS's Darren Gersh on "Nightly Business Report." Gersh: "The advertising is gritty, determined, heroic. It's the essence of the Nike brand, a brand that some bargain hunting investors say is now available at a discount." Marchfield Associates Managing Dir Sam Mitchell said that the strength of Nike's shares is an "association with sports and what's positive in sports. That's very powerful. That intangible value is a very high proportion of Nike's total value." Along with the brand identity, Mitchell says Nike "offers world class logistics and a proven record of aggressive management." While Nike believes it "can deliver long-term growth of 15%," Mitchell figures if sales grow "just" 8%, Nike's stock "is reasonably priced in the mid fifties, well above [Friday's] closing price of 43 7/8" ("NBR," PBS, 2/27).