© Reuters. Today’s Most Important Initiations
By Davit Kirakosyan
Raymond James initiated coverage on Nike (NYSE:) with an Outperform rating and a price target of $99.00.
Credit Suisse initiated coverage on Boeing (NYSE:) with an Underperform rating and a $98 price target, noting that the company will remain “heavily challenged” in its attempts to sell aircraft into China. Credit Suisse argues the market is “far too optimistic on BDS profitability,” with its estimates being significantly below the consensus.
Raymond James initiated coverage on Lululemon Athletica Inc. (NASDAQ:) with a Strong Buy rating and a price target of $345.00.
Mizuho Securities initiated coverage on Medtronic , Inc. (NYSE:) with a Buy rating and a price target of $100.00. Its Buy thesis is supported by a number of factors, including (1) the company’s large diversified portfolio breadth which helps as a recession hedge, (2) multiple growth shots-on-goal in premier Medtech growth categories, (3) portfolio evaluation optionality that could unlock substantial value, and (4) a fortress balance sheet.
Raymond James initiated coverage on Skechers USA (NYSE:) with an Outperform rating and a price target of $40.00.
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