Nike Heads Toward 5-Month Highs After JPMorgan Upgrade: Retail Expects Stock To Hit $90-Mark

Nike (NKE) shares surged 4% in early trading on Monday to head toward a five-month high after JPMorgan upgraded the stock to ‘Overweight’ from ‘Neutral,’ citing a multi-year recovery for the company, driving high-teens to 20% annual earnings growth through fiscal 2030.

Retail sentiment on the stock improved to ‘bullish’ from ‘bearish’ a day ago, with chatter volumes at ‘normal’ levels, according to Stocktwits data.

The retail user message count on Nike increased by 167% in the last 24 hours on Stocktwits, with the stock on the watchlist of over 120,000 users on the platform.

JPMorgan also raised its price target on Nike to $93, up from $64, according to TheFly. The brokerage increased Nike's estimates for the first time in 13 months following its fieldwork and talks with management.

A bullish user on Stocktwits noted that the stock could rise to $90.

Nike executives in June had said the sportswear maker aimed to mitigate the impact of U.S. tariffs by reducing imports from China to the United States to the high single-digit range by the end of fiscal 2026.

Nearly 16% of Nike’s shoes imported into the U.S. are produced in facilities located in the world's second-largest economy. It has also announced price hikes on some of its products in the U.S. as it wrestles with costs tied to tariffs.

The stock is up nearly 5% so far this year and has increased by about 8% over the last 12 months.

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Also See: CEA Industries Popped A Whopping 500% This Morning While Retail Chatter Skyrocketed 12,000% On Stocktwits – Find Out More

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