Jefferies Maintains Buy on Nike Amid HOKA’s Slowing Sales Growth

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.

Jefferies Maintains Buy on Nike Amid HOKA’s Slowing Sales Growth

360b / Shutterstock.com

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 as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

Read More: 10 Best Magic Formula Stocks for 2025 and 10 Best Retirement Stocks to Buy According to Hedge Funds

Disclosure: None.