15 Best Cyclical Stocks to Buy Now

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1. Nike, Inc. (NYSE:NKE)

Number of Hedge Fund Holders: 81

Nike, Inc. (NYSE:NKE) ranks among the best cyclical stocks to buy now. Randal Konik, a Jefferies analyst, maintained his Buy rating for Nike, Inc. (NYSE:NKE) on June 23 and reaffirmed the price target at $115. The update followed Konik’s observation that market rival HOKA’s sales growth appeared to be slowing.

HOKA’s year-over-year sales growth dropped to +10% in the fourth fiscal quarter, the analyst noted, after increasing by +24% and +35% in the third and second fiscal quarters, respectively. Nike’s increased emphasis on innovation and the return of wholesale channels, including its partnership with Amazon, Konik says, put the company in a position to increase its market share.

The analyst observes that there is little competition in the footwear industry, and that Nike, Inc. (NYSE:NKE) has a sizable total addressable market (TAM) due to its wide range of price points that appeal to an array of customers.

Nike, Inc. (NYSE:NKE) is the largest retailer of sportswear and footwear in the world. The company develops, manufactures, markets, and sells clothing, accessories, equipment, and footwear across the globe.

While we acknowledge the potential of NKE to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than NKE and that has 100x upside potential, check out our report about this cheapest AI stock.

READ NEXT: 10 Best Magic Formula Stocks for 2025 and 10 Best Retirement Stocks to Buy According to Hedge Funds.

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