Shopify, Nike upgrades among today's top calls on Wall Street
Check out today's top analyst calls from around Wall Street, compiled by The Fly.
BUY SHOPIFY: Loop Capital analyst Anthony Chukumba upgraded Shopify (SHOP) to Buy from Hold with an unchanged $1,400 price target. The company offers a "compelling" merchant value proposition and its ecosystem continues to grow, the analyst told investors in a research note. Chukumba added that Shopify should continue to generate additional heady top-line growth and margin expansion as the company benefits from the continued secular shift to e-commerce.
SPORTSWEAR 'ON FIRE': Jefferies analyst Randal Konik upgraded Nike (NKE) to Buy from Hold with a price target of $192, up from $140. Increased interest in health and wellness, higher adoption of casualwear fashion and the return of sports and outdoor activities has the sportswear market "on fire" and he sees no signs of it slow, said Konik, who has become increasingly confident in Nike's medium-term growth and profitability trajectory. The analyst believes China will remain the fastest growing region for Nike in the years ahead and notes that it is also the highest margin region for Nike. To see the rest of the story Click Here.