Nike (NKE) Upgraded

Analysts at FBR Capital upgraded Nike (NYSE: NKE) from "market perform" to "outperform" with a price target of $84. Nike's really important -- in some ways, more important than FedEx . It's a global franchise of footwear you don't need. Wal-Mart has tons of sneakers that look like Nikes, so you don't need to buy Nikes. You don't need to overpay. But it is happening. One of the hallmarks of this post-Great Recession moment is that there was pent-up demand galore for what people liked before this decline. The marginal buyer stopped buying. But the buyers didn't change; they just deferred. Says Jim Cramer.

Also the recent troubles of Tiger Woods have had no effect on Nike's sales of golf products. "It's been a non-event for Nike," Matt Powell, one of the analysts who performed the study, told Bloomberg