- Nike (NKE -2.7%) dazzled in a branded athletic apparel survey conducted by BTIG.
- Analyst Camilo Lyon says Nike NKE was the clear stand out favorite apparel brand across the firm's survey both by age cohorts and gender.
- "Not only did respondents buy more NKE gear last year, more respondents plan to purchase NKE over the coming months vs. other brands. Regarding future purchase intent, 36% of respondents plan to buy NKE apparel over the next 6 months while only 13% plan to buy UAA apparel and 10% plan to buy LULU gear. We contrast this with respondents that previously purchased these brands during the last 6 months and note that UAA is losing prospective share as 20% bought recently but only 13% expect to buy in the future. For LULU, 7% bought in the past 6 months and 10% expect to buy in the next 6 months. The differential for NKE's past and future purchase intent is negligible at just ~2%."
- BTIG has a Buy rating on Nike and price target of $162.
- Nike is due to report earnings in the middle part of March.