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Williams Trading has taken a bullish stance on Nike (NKE), double upgrading the stock to Buy and raising the price target from $67 to $93. The analyst behind the call — Sam Poser Williams Trading Equity Analyst — joins Market Domination to discuss his outlook on the company.

Poser acknowledges that Nike is undergoing changes that will take time, however he highlights a positive turn: "The reentry of Tom Peddie to run their marketplace or wholesale relations... has been met very well." Poser expresses concerns about the current leadership, saying, "I do not think that the current management team at Nike understands brand and has the institutional knowledge of the Nike brand that is needed to continue to run it," but Peddie will help turn that around.

Regarding new products, Poser explains that Nike lacks a breakout hit at the moment. "There's always some good product. The question is what's gonna be big enough, and I think that's gonna take some time here," he states.

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This post was written by Angel Smith