Why Nike's Price Dip Could Mean Bigger Profits Ahead

Benzinga

Nike’s post-earnings stock dip is seen as a buying opportunity by Bank of America, which reaffirmed a Buy rating and $84 price target. Analysts cite Nike’s renewed innovation push and Sport Offense strategy as key drivers for long-term growth.

Transcript

00:00It's Benzinga, bringing Wall Street to Main Street.

00:03Nike shares have declined since its first quarter earnings release,

00:06creating what analysts view as an attractive buying opportunity, according to Benzinga.

00:11Bank of America's Lorraine Hutchinson reaffirmed a buy rating on Nike with an $84 price target,

00:17citing its share pullback and innovation-driven recovery potential.

00:22Analysts said,

00:23Nike's sport offense strategy and new innovation engine are enhancing category expertise

00:27and streamlining product development across Nike, Jordan, and Converse.

00:33The sports apparel company is accelerating innovation with new performance and lifestyle product launches

00:37expected to boost growth and offset weakness in classic lines.

00:42Bank of America forecasts Nike's revenue to grow from $47.02 billion in 2026 to $53.65 billion in 2028,

00:51with earnings per share rising to $3.68 by 2028.

00:55For all things money, visit Benzinga.com.

00:57Thank you for running around.

01:01GG Jest.

01:08May Porath a large amount of money.

01:15As always take a long time.

01:21Please switch off.

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