27% profit every 20 days?
This is what Nic Chahine averages with his option buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.
Few investors consider Nike Inc (NYSE:NKE) a tech stock, but Oppenheimer said in an upgrade note that a "technological evolution is underway."
The Analyst
ENTER TO WIN $500 IN STOCK OR CRYPTO
Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!
Oppenheimer's Brian Nagel upgraded Nike from Perform to Outperform with a $90 price target.
The Thesis
Nike continues to embrace technological evolution as a means to "enhance most all aspects" of its business model, CNBC quoted Nagel as saying in the upgrade note. (See his track record here.)
The analyst anticipates improvements in areas such as consumer connections, product innovation and manufacturing.
Want Private Access to Benzinga Analyst?
Check out the latest strategies our team of experts are using every week so that you can always adapt to the market like the pros!—Get FULL Access to This Week's Webinar Here.
Investors are not fully appreciating the changes being made that can favorably impact Nike's near- and long-term performance, the analyst said.
Oppenheimer forecast a mid-single digit growth rate for the global sportswear market, and said China, Asia Pacific and Latin American will outperform more mature markets.
Price Action
Nike shares were down 1.6 percent at $75.26 at the time of publication Thursday.
Related Links:
Cowen: Nike's Valuation Looks High Amid Unprecedented North American Competition
Analyst: Nike's Capacity To Surprise Investors On The Upside 'Not As Substantial Anymore'
27% profit every 20 days?
This is what Nic Chahine averages with his option buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.