Analyst Predicts Nike's Stock to Double in Near Future
Keep your eyes peeled on the sportswear giant.
Nike’s relevance continues unabated well into the fourth quarter of 2015 with recent news of Nike’s market cap surpassing $100 billion USD, as well as CEO Mark Parker’s confident appraisal at the brand’s 2015 Investor Day of its ability to deliver $50 billion USD by the end of fiscal year 2020. He’s not alone in his bullish predictions for the brand, with Evercore ISI analyst Omar Saad publishing a research note on Sunday that names Nike as the next “mega-cap juggernaut,” thus upping his price target for Nike stock from $150 USD to $200 USD — it currently trades on the NYSE for $130 USD. “Nike is becoming one of those rare franchises that almost everyone uses almost every day, and has only just begun to fully monetize this powerful position,” says Saad, citing the brand’s focus on more premium products sold at higher prices, ongoing innovation, and a marked increase in direct sales.
