Nike could soon improve its fortunes, according to Piper Sandler.
Piper accompanied the move by lifting its price target to $90 from $72, implying upside of 26%.
Shares of Nike are already down 6% on the year, after ending 2024 with a 30% decline.
Analyst Anna Andreeva said this negative sentiment, however, could soon flip amid CEO Elliott Hill's intensified efforts to turn Nike around.
"The combination of product innovation, strong marketing, franchise/portfolio management, and inventory actions lays out a path for NKE to a return to healthy, profitable sales growth by F3Q26," the analyst wrote.
Persons:
Piper Sandler, Piper, Anna Andreeva, Elliott Hill's, Nike's, NKE, Andreeva
Organizations:
Nike, Air
Locations:
North America