Image: Nike’s shares have languished of late, and a comeback will take some time.
Nike retains one of the strongest brand names across our coverage universe, and customer loyalty remains a key attribute to a bull case for shares. However, the company’s fiscal 2025 will be challenging, with considerable weakness during the first quarter of fiscal 2025. We like Nike’s business model, but we remain on the sidelines as we adjust our valuation model to reflect the lower-than-expected fiscal 2025 performance.
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