NIKE (NKE) shares were up over 14% in recent Friday trading following its Q4 results beat, with the company also pointing to plans to mitigate $1 billion in tariff-related costs.
Chief Financial Officer Matthew Friend said during an earnings call that the firm expects a gross incremental increase of about $1 billion due to new tariff rates that are currently in place.
"We intend to fully mitigate the impact of these headwinds over time," Friend said.
Following the results, HSBC upgraded the stock to buy from hold and raised its price target to $80 from $60. Other increases included from UBS to $63 from $56, JPMorgan to $64 from $56, and Morgan Stanley to $64 from $61.
Price: 71.91, Change: +9.37, Percent Change: +14.99
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