Equities researchers at Credit Suisse raised their target price on shares of NIKE (NYSE: NKE) from $51.00 to $60.00 in a report issued on Friday. The firm currently has a “neutral” rating on the stock.

The analysts wrote, “Nike delivered solid results across a number of key areas, suggesting that a return to the target model for high single digit top-line growth and teens EPS growth is underway. We are incrementally more positive on the longer-term earnings growth opportunities and are raising estimates and target price accordingly. Valuation remains a modest holdback. Nike North America revenue growth of 18.6% (constant currency) and futures growth of 11% were both ahead of our expectations and consensus and highlights the strength of the Nike brand in the region. Overall industry data suggested a meaningful deceleration in athletic footwear trends (66% of Nike N.A. revenue), Nike was able to deliver 15% growth, an acceleration from 13% growth in the prior quarter, suggesting substantial market share gains.”

NIKE (NYSE: NKE) traded up 11.30% on Friday, hitting $59.6563. NIKE has a 1-year low of $53.53 and a 1-year high of $54.88. The stock’s 50-day moving average is currently $54.. The company has a market cap of $53.435 billion and a price-to-earnings ratio of 24.19.

NIKE (NYSE: NKE) last released its earnings data on Thursday, March 21st. The company reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.06. The company had revenue of $6.19 billion for the quarter, compared to the consensus estimate of $6.23 billion. During the same quarter in the prior year, the company posted $1.20 earnings per share. The company’s quarterly revenue was up 9.4% on a year-over-year basis. Analysts expect that NIKE will post $2.64 EPS for the current fiscal year.

NKE has been the subject of a number of other recent research reports. Analysts at Stifel Nicolaus reiterated a “buy” rating on shares of NIKE in a research note to investors on Friday. They now have a $63.00 price target on the stock, up previously from $61.00. Separately, analysts at Citigroup raised their price target on shares of NIKE from $62.00 to $65.00 in a research note to investors on Friday. They now have a “buy” rating on the stock. Finally, analysts at UBS AG raised their price target on shares of NIKE from $57.50 to $63.00 in a research note to investors on Friday. They now have a “buy” rating on the stock.

Twelve investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $70.92.

The company also recently announced a quarterly dividend, which is scheduled for Monday, April 1st. Investors of record on Monday, March 4th will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 1.57%. The ex-dividend date is Thursday, February 28th.

NIKE, Inc. (NYSE: NKE) is engaged in the design, development and worldwide marketing and selling of footwear, apparel, equipment, accessories and services.