Nike (NKE) PT Raised to $75 at Telsey

Telsey analyst Christina Fernandez raised the price target on Nike (NYSE: NKE) to $75.00 (from $70.00) while maintaining a Market Perform rating.

The analyst comments "1QF26 Thoughts and Estimates: As we look ahead to Nike's 1QF26 report, we are focused on: 1) product innovation: how is the revamped running footwear assortment (Pegasus, Vomero, Structure) performing (+HSD globally last quarter), what are the next categories that will be revitalized (likely soccer with World Cup in 2026), and expectations for the NikeSKIMS brand launch this Friday; 2) wholesale distribution: contribution of expanded relationships (e.g. Jordan at Academy Sports and Caleres and women's at Urban Outfitters); 3) inventory: progress on rightsizing levels and impact of liquidation activity on the gross margin; and 4) tariffs: in June Nike estimated a ~$1B tariff impact to FY26, but with tariffs on countries like Vietnam, Cambodia, and Indonesia doubling since then, we estimate it could be ~$1.5B."

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