An investor note from JP Morgan sparked a rally in Nike shares on Monday after analysts urged investors to “Just Buy It!”—a play on the brand’s iconic slogan—citing growing confidence in its multiyear recovery plan.
JP Morgan moved Nike to its “overweight” shelf from “neutral” and significantly raised its price target to USD93 from USD64. The bullish call reflects optimism around the company’s “Win Now” strategy, which prioritizes core business objectives, operational discipline, and product innovation. Analysts also revised upward their earnings outlook for Nike through 2026 and 2027.
Nike shares responded with a 3.9 percent gain, closing at USD79.24—their highest level in five months.
The company’s recovery plan includes aligning inventory more closely with sales growth, boosting wholesale pre-orders, and rolling out new performance-focused products. The upcoming 2026 FIFA World Cup in the U.S. is also seen as a key catalyst for growth in the sportswear segment.
While Nike has weathered several financial headwinds in recent quarters, JP Morgan believes the worst is over. The firm said stronger earnings are likely by late 2025, assuming Nike can successfully navigate regional and consumer market pressures.
The upgrade signals renewed investor confidence in Nike’s ability to deliver a turnaround, despite lingering challenges in global demand and competition.
