Nike Stock Jumps As Jefferies Recommends Buying ‘Aggressively’ | Global News Avenue

Nike stock is getting higher and higher after Jefferies analysts advise investors to “actively” buy stocks in sports footwear companies.

Nike (slipJefferies analysts say that stocks (traded nearly five-year lows earlier this month) are ready to make a comeback and may earn more than 40% of the value based on recent prices. The company’s stock has sprinted to a broader market, S&P 500 Recently, it rose 0.1%; Nike’s share price has risen by about 5%.

“After several years of challenges and self-wound wounds, we believe that new leadership will improve product direction and rebuild the balance between (direct to consumer) and wholesale (channel). near Valuation At the low point, we believe that now is the right time to actively buy stocks. ”

Jefferies analysts say there are minor drawbacks in the company’s investment, because worst of all, its stock will fall 8% over the next two years. Their new price target is $115, which is well above the Wall Street average of $80 and above any target tracked by the visible Alpha.

Nike is focusing on the increase in partnerships with wholesalers and will be shown significantly on Foot Locker (Florida) and Dick’s sporting goods (DKSAnalysts say that over-reliance on digital sales.

They praised efforts to develop more innovative products under company veteran Elliott Hill Bringing back the CEO last fallincluding the launch of the Pegasus Premium, running shoes that combine multiple Nike cushioning systems. Analysts say they are happy that Nike is trying to hire more people who focus on the product and launch a product line With reality TV star Kim Kardashian.

“Despite the slight loss of market share to competitors, NKE’s global ubiquity and distribution advantages ensure its continued dominance in the sportswear industry,” the note said.