Why Nike's Stock Is Trading Higher Today

Nike (NYSE: NKE) shares are trading higher on Thursday after Wedbush maintained its Outperform rating on the stock and raised its price target from $107 to $127 per share.

Nike is the largest athletic footwear and apparel brand in the world. It designs, develops, and markets athletic apparel, footwear, equipment, and accessories in six major categories: running, basketball, soccer, training, sportswear, and Jordan. Footwear generates about two thirds of its sales. Nike's brands include Nike, Jordan, and Converse (casual footwear).

Nike sells products worldwide and outsources its production to more than 400 factories in more than 40 countries. It was founded in 1964 and is based in Beaverton, Oregon.

Nike shares were trading up 0.65% at $115.67 on Thursday. The stock has a 52-week high of $118.23 and a 52-week low of $60.