Nike Stock Is Soaring Because Wall Street Is Cheering Strong Earnings


Nike stock is jumping as investors cheer its upbeat fiscal-second-quarter report, which demonstrated that the athletic giant’s pandemic momentum continues.

Telsey Advisory Group’s Joseph Feldman reiterated an Outperform rating and boosted his target to $175 from $155, writing that the shift to digital sales should propel earnings for years to come. “Nike’s momentum remains robust and its strong execution should help it to emerge from the pandemic even stronger.”

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