Bank of America Securities analyst Lorraine Hutchinson maintained a Buy rating on Nike today and set a price target of $84.00.
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Lorraine Hutchinson’s rating is based on the attractive risk/reward profile following a recent pullback in Nike’s stock price. She sees potential for sales and margin improvements as Nike’s innovation pipeline begins to scale. The company’s shift from a consumer segment alignment to sports-based teams has enhanced category expertise, and the launch of the Innovation Engine is expected to further unify and scale innovation across Nike’s brands.
Nike’s increased pace of product innovation and market introduction is another factor supporting the Buy rating. With new product launches and a strategic marketing shift towards brand campaigns, Nike is well-positioned to capitalize on global events like the 2026 FIFA World Cup. Additionally, expanding product offerings under $100 could capture value-conscious consumers, providing flexibility if broader demand slows. These strategic initiatives are expected to drive growth and enhance Nike’s market presence.
Hutchinson covers the Consumer Cyclical sector, focusing on stocks such as Nike, Ross Stores, and Lululemon Athletica. According to TipRanks, Hutchinson has an average return of 3.8% and a 51.94% success rate on recommended stocks.
In another report released on October 30, Jefferies also maintained a Buy rating on the stock with a $115.00 price target.