Stifel Reiterates Buy on Nike (NKE) Following Invertex Acquisition

Stifel reiterated a Buy rating and $80.00 price target on Nike (NYSE: NKE) following the company's acquisition of Invertex. The purpose of the acquisition is to strengthen Nike’s digital initiatives with added talent and capabilities in computer vision and artificial intelligence.

Near-term, Stifel views Invertex as aligned with NIKE’s strategy to enhance consumer connections and gather related data insights as a source of competitive distinction. Longer-term, this is seen as a stepping stone to drive advanced manufacturing methodologies where 3D images of a consumer’s foot are used to produce custom fitted products on demand.

For an analyst ratings summary and ratings history on Nike click here. For more ratings news on Nike click here.

Shares of Nike closed at $67.18 yesterday.

You May Also Be Interested In

• Robinhood Markets (HOOD) PT Raised to $130 at Cantor Fitzgerald
• Stifel Reiterates Buy Rating on Crinetics (CRNX)
• Incyte (INCY) PT Raised to $105 at Truist Securities