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Truist Securities Upgrades Nike to Buy, Citing Positive Long-Term Prospects with New Leadership
Oct 10, 2024 8:02 PM - Davit Kirakosyan(Last modified: Oct 11, 2024 1:55 AM)
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Truist Securities analysts upgraded Nike (NYSE:NKE) to Buy from Hold, raising the price target on the stock to $97 from $83. The analysts, previously cautious on Nike, now see a more favorable outlook as investor expectations have adjusted to the ongoing turnaround reality.
While a full recovery may take time, the presence of experienced leadership and recent short-term wins—including increased marketing investment, stronger wholesale partnerships, and the high-profile promotion of ambassador Caitlin Clark—suggest promising momentum for the brand’s future.
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