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Nike stock was upgraded by JPMorgan analysts, who said to “Just Buy It!”
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Nike stock was upgraded by JPMorgan analysts, who said to “Just Buy It!”
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The firm raised its rating to “overweight” from “neutral, and boosted the price target to $93 from $64.
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The analysts were optimistic about Nike’s turnaround effort.
Nike (NKE) shares traded at their highest level in five months Monday after JPMorgan upgraded the stock on the athletic shoe and apparel maker’s turnaround strategy.
Playing on the company’s slogan “Just Do It,” the analysts wrote in a note to investors, “Just Buy It!,” boosting their rating to “overweight” from “neutral.” They also lifted the price target to $93 from $64. In addition, they increased the outlook for the company’s earnings per share in both fiscal years 2026 and 2027.
The analysts noted their optimism came after “recent fieldwork, management access, and 10-K review,” and pointed to Nike’s “5-pronged multi-year recovery path.” That plan included improving inventory alignment to sales growth, accelerating wholesale overbooks, and new performance products, especially with the soccer World Cup coming to the U.S. next year.
Nike shares, which entered Monday up less than 1% this year, rose about 4% at the opening bell.
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