Nike Continues Drawing Bullish Analyst Predictions
Athletic shoe and sportswear leader Nike (NYSE: NKE) continues to draw positive attention from Wall Street analysts after turning in robust second-quarter fiscal 2021 sales last Friday. Today, wealth management and analysis firm UBS joined the bull camp with a $183 price target, which, at the time it issued its research note, represented an approximate 33% upside for Nike.
In its research note, UBS describes Nike as effectively being in a class of its own. "Importantly, Nike's rivals have very little chance of catching up," the note states, citing the company's supply chain, advertising, and rollout of new products as putting it decisively ahead of its competitors. The firm also asserts the "main question is if the stock can continue outperforming given its +36% YTD move" before reaching the conclusion, "we have high conviction the answer is yes."
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Source Fool.com
