WILL NIKE'S STOCK BEGIN MOVING UP AGAIN?
Despite Michael Jordan's return to the NBA, the current
issue of FORBES reports that Nike Inc.'s stock has been stuck
around 75 since mid-December. But Kemper Securities analyst
Kevin Dukesherer thinks Nike's stock will soon start moving
upwards again. "Order momentum was strong for basketball," even
before Jordan's return. Dukesherer also notes that Nike's
expenses are declining while its inventories "are in good shape."
He sees the stock "flying as high as" $99 over the next 12
months, which is 32% above its recent price (Thomas Jaffe,
FORBES, 4/24 issue).