Aneesha Sherman, an analyst from Bernstein, maintained the Buy rating on Nike (NKE – Research Report). The associated price target remains the same with $102.00.
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Aneesha Sherman has given her Buy rating due to a combination of factors relating to Nike’s strategic actions and brand positioning. The company has made significant progress in clearing outdated inventory, particularly under the new CEO’s leadership. This inventory management is expected to pave the way for new product launches, enhancing the brand’s appeal.
Jordan and AF1 lines have shown positive signs, with aggressive clearance strategies leading to improved selling prices and healthier product turnover. However, the Dunk line has struggled, prompting management to consider scaling it down. Overall, these efforts contribute to a positive outlook on Nike, supporting the Outperform rating with a price target of $102.