Nike To Gain From Innovation Reacceleration And Strengthening Inventory Backdrop, Goldman Sachs Analyst Says
Portfolio Pulse from Shivani Kumaresan
Goldman Sachs analyst Brooke Roach reiterated a Buy rating on Nike Inc (NYSE:NKE) with a price target of $118.00. The analyst is optimistic about Nike's innovation portfolio and expects gross margin-led profit expansion into FY25. However, there are concerns about uneven quarterly sales growth and macroeconomic factors. Nike's F4Q earnings result is scheduled for June 27.
June 12, 2024 | 5:55 pm
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Goldman Sachs analyst Brooke Roach reiterated a Buy rating on Nike with a price target of $118.00. The analyst is optimistic about Nike's innovation portfolio and expects gross margin-led profit expansion into FY25. However, there are concerns about uneven quarterly sales growth and macroeconomic factors.
The Buy rating and $118 price target from Goldman Sachs are positive indicators for Nike's stock. The analyst's optimism about innovation and margin expansion supports a positive outlook. However, concerns about uneven sales growth and macroeconomic factors may temper short-term gains.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100