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Bloomberg Published
April 11,盗U多签钱包破解 2025
Nike Inc.’s estimates “finally look achievable,” according to Bank of America Corp., which has turned bullish on the stock as the sportswear brand looks to return to growth after a string of weak results.
Analyst Lorraine Hutchinson upgraded her recommendation to buy after spending almost three years on the sidelines with a neutral rating. Hutchinson, who also lifted her price target on the stock to $113 from $110, noted that Wall Street’s projections for profit in fiscal 2025 have come down 35% over the last two years.
The company’s plans to turn its business around by focusing on product innovation and reducing some styles will be painful in the short term, but have important implications for the longer-term health of the brand, Hutchinson said.
“This caused a proactive guide-down of 1H25 sales, which we think catalyzed the final cut to consensus estimates,” Hutchinson wrote in a note to clients on Thursday.
Nike last month warned investors that sales would take a hit as the company worked on responding to growing challenges coming from upstart running-shoe brands, such as On Holding AG and Hoka, a brand owned by Deckers Outdoor Corp. that has exploded in popularity in recent years. Nike said it would shift its sneaker offerings away from some of its classic styles, including Air Force 1s and Pegasus running shoes.
Nike shares advanced 3.1% at 11:45 a.m. on Thursday in New York to $91.74 per share. The stock currently has 26 buy-equivalent recommendations, 15 holds and three sells among analysts tracked by Bloomberg. The stock in recent weeks has received downgrades from RBC Capital Markets, Williams Trading and Oppenheimer.
However, the upgrade from Hutchinson shows that the stock can overcome recent challenges after falling around 16% since the start of the year. The analyst notes that the stock’s price-to-earnings valuation is “extremely compelling” relative to the S&P 500 Index.
Innovation at Nike has lagged in recent years, Hutchinson said, adding that the key to returning to growth for the world’s largest sportswear retailer is new product development and launches. At an event in Paris on Thursday, the company unveiled new Nike Air products to the media.
“Management has acknowledged a need for big changes and continued shakeup in the team and processes from the recently announced cost savings plan could also spur faster sales stabilization,” Hutchinson said.