Nike (NKE) will continue to race ahead in the sneaker space as it aggressively expands its digital presence, according to Oppenheimer.


This slideshow requires JavaScript.

♦♦♦ Stock Market News Today ♦♦♦

Nagel upgraded Nike to Outperform from Perform with a $90 price target, which is nearly an 18% move higher from Thursday’s opening price.

Shares of the sneaker giant have been on fire this year, rallying 23% in 2018. The stock is outperforming the S&P 500, which rose 6% in the same period. Nagel’s long term bullish thesis lies mostly in the belief that Nike’s digital expansion will make it the dominant force among shoemakers.


“A technological evolution is underway at NKE, whereby management is embracing the power of digital as a means to enhance most all aspects of NKE’s business model, including consumer connections, product innovation, and manufacturing,” Nagel said. “Digital is allowing NKE to drive sales through more profitable direct channels and minimize markdown risks by producing on-trend product faster.”


Nike shares were trading in the $77 range on Thursday.


Categories: Stock Markets

Tags: , ,

3 replies


  1. Amazon is luring the next generation of consumers. To teenage shoppers, there is nothing quite like Amazon (AMZN). – Stock Market News Today
  2. Inc said it would carry more Apple Inc products globally in time for the holiday shopping season – Stock Market News Today
  3. U.S. Stocks Fell On Thursday, Pressured By Weak Economic Data And A Drop In Healthcare Shares – Today’s Stock Market News

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.

%d bloggers like this: