Nike price target raised to $87 from $80 at Stifel

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Nike upgraded on resilience of the athleisure trend

Athleisure isn’t going anywhere say HSBC analysts, driving an upgrade of Nike Inc. shares. HSBC raised Nike’s price target to $77 from $74. “[H]ealth is one of the key concerns of consumers for the future and whether it’s actually practising sports or wearing sporting goods because it makes you feel better about yourself, we do not believe the appetite for those products is about to wane,” analysts led by Erwan Rambourg wrote. HSBC also listed a number of positive features to athletic businesses of Nike, Adidas and Puma including: healthy inventories, a goal of reducing the number of discounts, and the upcoming World Cup tournament. The possibility of U.S. tariffs is seen as a common risk. Nike shares are up 8.8% for the year so far, outpacing the Dow Jones Industrial Average , which is down 0.3% for the period.

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