BTIG Reiterates Buy Rating on Nike (NKE), 'Be on the Offense, Always'

BTIG analyst Robert Drbul reiterated a Buy rating and $100.00 price target on Nike (NYSE: NKE)

The analyst comments "Upon his start as CEO in October '24, CEO Elliott Hill inherited a multitude of competitive pressures, including a sluggish North American position, a weakening presence in China, and headwinds from its Converse brand. Over the last 15+ months, Nike has moved more intentionally over multiple seasons and chose to prioritize North America first from a management bandwidth and an investment perspective. As indicated last month, Nike is now much more focused on the important Greater China market, an area of heightened importance to investors and the company. Nike could have taken a more proactive stance towards China earlier in the turnaround, but we believe management was correct with its decision to work hard to fix one area and dimension, and arguably the most important piece. This disciplined sequencing, while potentially extending near-term headwinds, sets the company up for sustainable long-term growth."

For an analyst ratings summary and ratings history on Nike click here. For more ratings news on Nike click here.

Shares of Nike closed at $64.99 yesterday.

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