5 Most Undervalued Large-Cap Stocks To Buy According To Analysts

3. NIKE, Inc. (NYSE:NKE)

Number of Hedge Fund Holders: 69

Average Analyst Price Target: $121.6

Market Capitalization: $150.1 billion

Upside Potential: 22.6%

An Outperform rating and a $115 price target were maintained on NIKE, Inc. (NYSE:NKE) on March 19 by analysts at Wedbush.

NIKE, Inc. (NYSE:NKE) is a footwear company based in Beaverton, Oregon. It designs and sells athletic footwear, apparel, equipment, and accessories.

There were 69 hedge funds long NIKE, Inc. (NYSE:NKE) in the fourth quarter, with a total stake value of $3.5 billion.

Bronte Capital mentioned NIKE, Inc. (NYSE:NKE) in its fourth-quarter 2023 investor letter:

“NIKE, Inc. (NYSE:NKE) of change of strategy: Fast forward a few years and Nike has had a change of strategy that was an Exocet to shoe industry retailers. Nike (who do not sell on Amazon) decided (accurately) that they had the hot product and wanted to drive sales through their own (mostly online) channels. They wanted to capture the retail margin.

Nike used to have 30,000 wholesale arrangements (retailers who sold their product). They cut this number sharply, down to 3000 and told people they were going to 1800. Small shoe retailers lost their core brand. Many failed…” (Click here to read the full text)