We have outlined on the chart our technical reason for the $99 price target, on the fundamental side the strength within China for Nike is amazing and shows that the Chinese consumer is more than willing to sacrifice nationalism for the sake of fashion. Basketball within China presents huge opportunities and Nike is to the forefront of reaping the rewards, highlighted by 60 consecutive months of growth despite trade dispute and tensions.
Entry level $92 Target Price $99 Stop loss $90
P/e ratio 32 Average Analysts price target $99 | Overweight