Nike Rises 4% After JP Morgan Says "Just Buy It" and Upgrades Rating
Shares of sportswear giant Nike rose 4% at $79.3 premarket.
J.P.Morgan upgrades stock to "overweight" from "neutral"; hikes PT to $93 from $64 previously.
Brokerage in its note, headlined "Just Buy It", says the scaling of the performance product pipeline will help grow spring/summer 2026 orders, and boost interest in classic styles.
The new PT represents a nearly 22% premium to stock's last close.
JPM sees opportunity for NKE to recapture over 500 bps of operating margin between FY26 and FY28 on improved full-price selling and reception to new product innovation.
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