Argus Research Reiterates Buy Rating For Nike After Christmas; Are There Other Attractive Apparel and Footwear Stocks?

Analysts at Argus Research reiterated their Buy rating for Nike, Inc. NKE on Friday, raising their price target from $102 to $110. This implies an upside potential of approximately 14 percent from the current price point.

In addition, another five Wall Street research firms issued positive (either Buy or Outperform) ratings since December 10, setting price targets between $105 and $115, inclusive.

With Nike looking so good, are there any other attractive investment options amongst apparel and footwear companies?

Crocs

Crocs, Inc. CROX is amongst the best-looking companies in the footwear space. Over the fourth quarter of the year, the stock received Buy ratings from Wunderlich, Monness Crespi Hardt and Sterne Agee, accompanied by price targets of $17, $20 and $16, respectively.

With the stock trading barely above $12.50, the minimum upside expected surpasses 27 percent, while the best-case scenario (the one proposed by Monness Crespi Hardt) implies an upside potential of almost 60 percent.

A few days ago, the company announced the appointment of Gregg Ribatt as its new CEO, effective at the end of January, and analysts were quite pleased with the news. Read more about it here.

Under Armour

Under Armour, Inc. UA also felt research firms’ bullishness lately. Since the start of November, FBR Capital and Cowen & Company initiated coverage on the stock with Outperform ratings and $81 and $85 price targets, correspondingly, while BB&T Capital assumed coverage with a Buy and an $80 price target.

Trading around $68.27, the upside potential for the stock is plenty.

On top of these research firms, Jim Cramer also seems quite confident on this stock, and recommended it on CNBC’s Mad Money in early-November.

Skechers U.S.A.

Analysts also like Skechers U.S.A., Inc. SKX, a $2.88 billion lifestyle footwear designer and marketer. In late-October, Citigroup reiterated its Buy rating on the stock, with a $68 price target, Morgan Stanley initiated coverage with an Overweight rating and $73 price target, and Wunderlich Securities reiterated a Buy rating and $70.00 price target.

The stock currently trades around $56.15.