Nike: "Buy Aggressively"
One of the big winners on Wall Street today is Nike. The sporting goods manufacturer's stock is sprinting to a new two-month high. The reason: Jefferies analysts recommend that investors buy aggressively. In their view, earnings will initiate a V-shaped recovery. This is especially true because valuations have reached a low point.
Analyst Randal Konik said he believes new CEO Elliott Hill's plan to restore wholesale partnerships and develop new products will lead to an increase in profitability and increase Nike's share of the athletic footwear market in the coming years.
Konik raised his rating on Nike stock to buy after holding it for the past 17 months, and called it his new "top pick." Konik also raised his price target to $115 from $75, giving the stock about 50 percent more room to go. "With shares near a valuation low, we believe now is the right time to aggressively buy shares," Konik wrote in a note to clients, given the large potential upside and what he sees as minimal downside risk.
Konik said Nike made a number of missteps, including a reduced focus on product innovation and an overemphasis on Nike Digital and direct-to-consumer sales. "The Nike brand remains very strong, proving that the problems were self-inflicted and the competitive threat is less severe," Konik wrote.
DER AKTIONÄR favors Adidas among the sporting goods manufacturers. The company from Herzogenaurach has recently been able to prevail against modern competitors such as On or Hoka von Deckers. The share has developed better than that of its competitor Nike. Nike, in turn, could become interesting for investors as a turnaround story after recently reaching a five-year low.
Triumphing at a major tournament: That is the ultimate dream for every golfer. Sophia Popov fulfilled this dream in 2020 by winning the Women's British Open. This made her the first German golfer to win a major tournament. What makes her success so special: Due to a serious bout of Lyme disease, her career was already at risk. In "From Dream to Triumph", Sophia Popov and sports journalist Bernd Schmelzer tell her story of how she overcame her illness and was able to continue pursuing her great passion, golf. Nutrition and fitness tips as well as numerous anecdotes round off a book that is intended to make readers want to pick up a golf club themselves.
Authors: Popov, Sophia Schmelzer, Bernd Number of pages: 272 Publication date: May 16, 2024 Format: Paperback ISBN: 978-3-86470-951-7
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