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Nike price target raised by $15 at Baird, here’s why
The Fly

Nike price target raised by $15 at Baird, here’s why

Baird raised the firm’s price target on Nike to $140 from $125 and keeps an Outperform rating on the shares. The analyst expects Nike to beat fiscal Q2 earnings estimates and maintain or raise 2024 guidance, although the firm’s confidence in company’s current margin drivers is higher than for revenue. Baird expects Nike’s revenue to accelerate as wholesale comparisons normalize, and says several drivers lend visibility to strong second half of the fiscal year EBIT margin expansion. Nike’s “quality growth profile plus margin recovery potential support a continued favorable outlook,” the analyst tells investors in a research note.

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