On Tuesday, the analysts at Credit Suisse came out swinging, initiating close to a dozen new calls in the retail sector.
Specifically, the team initiated Nike Inc (NKE) with an outperform rating and $78 price target and Lululemon Athletica Inc. (LULU) with an outperform rating and $96 price target. The targets imply about 16% and 20% upside, respectively.
Notably left off the outperform list was Under Armour Inc (UA) UAA, but the analysts didn't forget it. They hit Under Armour with neutral rating and $18 price target, which implied about 5% upside to Monday's closing price.
Worth pointing out is the fact that Under Armour stock closed lower by 3.61% to $16.56 in response.
It wasn't just the apparel-makers on watch though, as Credit Suisse also roped in the retailers. The analysts initiated Foot Locker, Inc. FL, which recently tumbled on weak earnings, with an outperform rating and $50 price target. The target implies about 16% upside.
On the downside though, they hit Finish Line Inc (FINL) with an underperform rating and $9 price target. That implies about 14.5% downside from Monday's close. Shares closed lower by about 1.8% to $10.36 in response, although they are well off the session lows near $9.74. At the lows, Finish Line stock was down almost 8%.
So in a nutshell, go with Foot Locker over Finish Line, and Nike and Lululemon over Under Armour.
At least according to Credit Suisse.