Nike (NKE) PT Raised to $75 at TD Cowen; 'Promos Are Trending in the Right Direction'

TD Cowen analyst John Kernan raised the price target on Nike (NYSE: NKE) to $75.00 (from $68.00) while maintaining a Hold rating.

The analyst commented: "Thoughts on Q3 - Promos Are Trending in the Right Direction; We are encouraged by our promotional tracker within N America (which shows improvement), and franchise management within running (Pegasus, Vomero). Nike's marketing has demonstrated improved messaging with more targeted and impactful Demand Creation spending. That said, demand trends remain weak into spring. Reiterate our Hold rating but raise our target to $75, 25x our FY27E EPS, 19x EV/EBITDA."

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