Nike rises after JP Morgan says 'just buy it' and upgrades rating
Shares of sportswear giant Nike NKE.N rise as much as 4.9% to more than a four-month high of $79.99 in early trade
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
19 of 40 brokerages rate the stock "buy" or higher, 19 "hold" and 2 "sell" or lower; their median PT is $74 - data compiled by LSEG
Up to last close, NKE up 0.8% YTD
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