Nike (NKE) received a significant boost from Jefferies, which initiated coverage with an aggressive buy rating and a substantial price target of $110, despite the stock closing down 1.18% at $63.62 amid a broader market decline.
- The $110 target represents a potential 70% upside, driven by expectations of a turnaround under CEO Elliott Hill, inventory normalization, and the upcoming catalyst of the 2026 FIFA World Cup.
- The positive analyst view contrasts with data from Zacks, which forecasts modest 1% sales growth but a significant -28.2% decline in EPS for FY2026.
- The stock continued to trade slightly lower after hours, settling at $63.52 (-0.16%).