In a report released today, Alison Fok from DBS maintained a Buy rating on Nike (NKE – Research Report), with a price target of $115.00.
Alison Fok has given her Buy rating due to a combination of factors that indicate potential growth and strategic improvements for Nike. One of the key reasons is the launch of the NikeSKIMS line, a partnership with Kim Kardashian that targets the women’s fitness and activewear market. This collaboration is expected to tap into the growing demand for premium-quality and stylish womenswear, with an initial launch in Spring 2025 and plans for global expansion by 2026.
Additionally, Nike is taking steps to revitalize its product offerings and marketing strategies. The company is focusing on refreshing its footwear lineup and managing expenses effectively to maximize consumer impact. Despite challenges such as intense market competition and supply chain vulnerabilities, these strategic initiatives are seen as positive moves that justify the Buy rating, with a target price set at USD 115.
In another report released today, BMO Capital also maintained a Buy rating on the stock with a $92.00 price target.
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