Shares of Nike advanced about 5%, one of the best performers in the S&P 500 Monday, after Jefferies raised its recommendation on the stock to buy from hold. The investment bank cited Nike Chief Executive Elliott Hill's strategy to reposition the sportswear brand after years of missteps.

Nike shares (NKE) surged nearly 5.75% to $80.90 after Jefferies upgraded its rating on the stock to “buy” from “hold” and significantly raised its price target by 42% to $115. According to the brokerage,

Fintel reports that on February 24, 2025, Jefferies upgraded their outlook for NIKE (NYSE:NKE) from Hold to Buy. Analyst Price Forecast Suggests 15.73% Upside As of February 18, 2025, the average one-year price target for NIKE is $88.