(CercleFinance.com) – Wells Fargo raised its price target on Nike on Thursday from $135 to $146, while renewing its ‘overweight’ recommendation on the stock.
The financial intermediary justifies its decision by looking at the global sportswear and footwear market and at the market shares currently displayed by the American giant, even after its recent stock market rally.
In a sector note, the analyst highlights (1) the global hegemony of the comma brand, especially in the footwear market and (2) its excellent visibility in terms of turnover and margins, and this until the 2023/2024 financial year.
Nike shares are up more than 37% over the past three months.
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