UBS raises Nike price target to $146 from $141, names stock 2023 top pick

UBS analyst Jay Sole raised the firm’s price target on Nike to $146 from $141 and keeps a Buy rating on the shares. The analyst is also naming the stock his Top Pick for 2023. The company’s investments in product innovation, supply chain speed, and digital are unlocking what is likely a "multi-year period of above average growth", Sole tells investors in a research note. The analyst further contends that Nike has the brand strength, strategy, skills, and resources to outperform peers through a recession.