NEW YORK (TheStreet) -- Shares of Nike Inc (NKE) are lower by 0.16% to $94.45 in early market trading Friday, after the world's largest sporting goods maker had coverage initiated with a "market perform" rating by analysts at FBR Capital this morning.
FBR Capital analysts set a $94 price target on its shares.
Separately, analysts at Janney Capital said athletic footwear stocks including Nike could come under pressure, citing adverse SportScan data, according to Bloomberg.
Must Read: Warren Buffett's 25 Favorite Stocks
The report shows athletic footwear sales fell in the week ended November 1 by 6.5% from last year, compared to a 20.6% increase in the previous year.
TheStreet Ratings team rates NIKE INC as a Buy with a ratings score of A+. TheStreet Ratings Team has this to say about their recommendation:
"We rate NIKE INC (NKE) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, notable return on equity, expanding profit margins and solid stock price performance. We feel these strengths outweigh the fact that the company shows weak operating cash flow."