UPDATE: Baird Upgrades Nike (NKE) to Outperform

March 26, 2021 1:36 AM EDT
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Price: $129.33 +1.75%

Rating Summary:
    42 Buy, 8 Hold, 2 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 20 | Down: 24 | New: 32
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(Updated - March 26, 2021 6:17 AM EDT)

Baird analyst Jonathan Komp upgraded Nike (NYSE: NKE) from Neutral to Outperform with a price target of $150.00.

The analyst comments "We have been sidelined for >2 years (806 days…), despite our positive fundamental view of NKE’s transformation to a DTC/digital-led organization which has driven customer engagement, elevated brand positioning, and supported margin expansion. With the stock underperforming ~13% year-to-date and recent concerns (supply chain, China) likely to prove temporary, in our opinion, we are upgrading shares while maintaining our $150 price target, viewing the current level as providing a more compelling entry along with a favorable risk/reward when looking over the next 2+ years (reasonable range ~$110-200+)."

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 $128.64 yesterday.

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