In a report released today, Randal Konik from Jefferies maintained a Buy rating on Nike, with a price target of $115.00.
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Randal Konik has given his Buy rating due to a combination of factors that highlight Nike’s strong market position and potential for growth. The company is expected to build on its first-quarter momentum, particularly in areas such as Running, Wholesale, and North America. Despite challenges like tariff impacts and clearance sales, Nike is projected to slightly outperform market expectations, with innovations and a robust wholesale segment supporting this positive outlook.
Moreover, Nike’s North American operations are showing promising signs, with significant growth in categories like Running, Training, and Basketball. The company has also improved its digital strategy by reducing promotional days, which has increased full-price sales. Inventory levels have been managed effectively, setting up a cleaner marketplace for the second half of the fiscal year. These factors, combined with easier comparisons in the latter half of the year, suggest that Nike is well-positioned to regain its leadership status, making it an attractive investment opportunity.
Konik covers the Consumer Cyclical sector, focusing on stocks such as Lululemon Athletica, Nike, and Planet Fitness. According to TipRanks, Konik has an average return of 0.9% and a 45.07% success rate on recommended stocks.
In another report released yesterday, BTIG also maintained a Buy rating on the stock with a $100.00 price target.