Nike Has 'Stronger Revenue Growth Ahead,' Says Bullish Goldman Sachs
Portfolio Pulse from Priya Nigam
Goldman Sachs analyst Brooke Roach initiated coverage of Nike Inc (NYSE:NKE) with a Buy rating and a $139 price target. Despite heavy discounts during Black Friday and Cyber Monday, and challenges such as market share gains by competitors, wholesale channel pressures, and fading tailwinds, Roach believes these factors are already priced into Nike's stock. She sees opportunities for margin expansion and stronger revenue growth ahead, citing cleaner inventories, moderating product cost inflation, and improving inventory health.

December 05, 2023 | 4:41 pm
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Goldman Sachs analyst Brooke Roach initiated coverage of Nike with a Buy rating and a $139 price target, citing margin expansion opportunities and potential for stronger revenue growth.
The initiation of coverage by Goldman Sachs with a Buy rating and a high price target suggests a positive outlook for Nike's stock. The analyst's view that current challenges are already reflected in the stock price and the potential for margin and revenue improvements could lead to increased investor confidence and a short-term positive impact on the stock price.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100