BUZZ-Nike gains after Jefferies upgrades to 'buy'

Shares of Air Jordan maker Nike NKE.N up ~2.03% at $78.05 in premarket trading

Jefferies upgrades NKE's rating to "buy" from "hold"; raises PT to $115 from $75

Brokerage says NKE's renewed focus on innovation will balance inventories, boost wholesale distribution and lead to higher sales and profits, especially since market expectations are currently low

"Elliot Hill is intimately engaged with current and lapsed retail partners and, we think Hill has the right playbook; it worked a decade ago, so it's highly likely to work again," Jefferies says

Former senior executive Elliot Hill took over as co's CEO in October

Avg. rating of 39 analysts is "buy"; median PT $90 - data compiled by LSEG

NKE stock has risen 1.1% so far in 2025