Nike added to ‘Tactical Outperform’ list at Evercore ISI

Evercore ISI analyst Omar Saad adding Nike the firm’s "Tactical Outperform" list with shares "looking like they could be flat or even down today despite a great quarter with several positive new developments." Given that the firm thinks inventories will be clear by the end of fiscal Q4, Evercore thinks Nike "could be poised to generate explosive revenue growth AND margin expansion in 2024," and argues that this prospect "should attract a lot of new investors in the next 90-180 days." Evercore has an Outperform rating and $185 price target on Nike shares following last night’s fiscal Q3 report.