Nike resumed with a Buy at Deutsche Bank

Deutsche Bank analyst Krisztina Katai resumed coverage of Nike with a Buy rating and $115 price target as part of a broader research note on Activewear. The company is taking bold steps to transform its business and embark on a multi-year innovation cycle that should deliver an acceleration in top-line trends and market share gains, the analyst tells investors in a research note. The turnaround will take time, but the firm is bullish on Nike’s ramping innovation ahead of the Paris Olympics and a shift back to wholesale, allowing the company to achieve “better scale of newness” and gain back shelf space, Deutsche Bank added.