Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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Therefore, the brokerage not only maintained its Buy rating but also kept the price target of $68 on the shares of the company.
In a back-to-school athletic footwear survey, 85 percent indicated Nike styles as the favorite. The brokerage has been conducting the survey for nearly a decade now and found the company retaining its dominant position in the footwear before the back-to-school season. However, the gap narrowed to nine percentage points on a year-over-year basis from 94 percent to 85 percent.
"While we remain confident in the achievability of NIKE's FY1Q and FY17 outlook and our Buy rating, we are adjusting our previously above-consensus estimates to reflect a more conservative view on US wholesale footwear given recent suggestion of share loss. In our view, any pull-back on concerns about share loss in the US should be viewed as an opportunity to build position," said Stifel.
The lead analyst expects Nike to face pressure in its signature basketball sector from rivals like Under Armour and the revival of casual/retro style, despite enjoying a dominant position.
At time of writing, Nike was trading at $59.28, down 1.56 percent on the day.
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New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.