Analyst Aneesha Sherman of Bernstein maintained a Buy rating on Nike (NKE – Research Report), retaining the price target of $102.00.
Aneesha Sherman has given her Buy rating due to a combination of factors including Nike’s strategic efforts to regain market share in the Running Specialty retail segment. Despite a decline in market share over the years, Nike is actively working on rebuilding its presence by enhancing its product lineup and improving retailer relationships. Retailers have responded positively to Nike’s new products such as the Pegasus Premium and Vomero 18, as well as the company’s improved communication and support strategies.
Aneesha Sherman also notes that Nike’s order books are expanding significantly, with expectations of market share growth in the coming years. This growth potential, alongside Nike’s efforts to balance the brand mix in the Running Specialty channel, suggests a promising outlook for the company. Consequently, these strategic initiatives and positive retailer feedback underpin Sherman’s Buy rating for Nike’s stock.
In another report released yesterday, Jefferies also upgraded the stock to a Buy with a $115.00 price target.