Jefferies reiterated its 'Buy' rating for Nike Inc. on January 12, 2026. The firm maintained a price target of $110.00, which represents a significant potential upside from its current trading price. Jefferies designated Nike as its '#1 Large Cap pick for '26'.
The endorsement cites Nike's reliable cash flow as a primary factor. The company is also on a path to achieving 'Dividend Aristocrat' status in 2026. This follows 24 consecutive years of dividend increases.
The rating comes despite Nike shares trading near 15-year lows on a price-to-sales basis. Jefferies expressed optimism regarding operational improvements, specifically noting strength in the running category and improvements in North America. The firm also anticipates success in rebuilding the wholesale channel.
This positive outlook follows Nike's recent strategic decision in December 2025. Nike sold its NFT unit, RTFKT, signaling a move away from blockchain collectibles to refocus on its core business.