Nike (NKE), the global leader in athletic footwear and apparel, has once again secured a top spot on Wall Street’s radar. Jefferies recently upgraded Nike stock to “Buy” from “Hold” and raised its target price to $115 from $75. The new price target suggests a 37% increase from current levels. Jefferies also referred to the stock as its “new stock pick,” citing key factors that support the company’s long-term growth potential and market leadership. Nike is scheduled to report third-quarter earnings for its fiscal 2025 on March 20.
Valued at $116 billion, Nike stock has gained 3.6% in the year to date, outperforming the S&P 500 Index ($SPX). Let’s see why Jefferies is bullish on Nike and whether the stock is a buy before earnings.
