Oppenheimer has upgraded Nike (NYSE) to “Outperform” from “Perform” and raised its price target to $120 from $110. Despite recent struggles, the firm sees the stock as “derisked” and poised for a gradual rebound.
Analysts highlight efforts by Nike’s leadership to refocus on product innovation and brand-building. Oppenheimer also reinstated Nike as a top mega-cap pick, with a focus on intermediate to long-term growth.
