UPDATE: Baird Upgrades Nike (NKE) to Outperform
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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+)."
Shares of Nike closed at $128.64 yesterday.
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