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Nike shares surge as inventory challenges start to abate, demand stays strong

December 21, 2022

Nike Inc (NYSE:NKE)’s shares soared about 11% on Wednesday as investors shrugged off margin pressure at the sportswear giant and focused on the company’s efforts to fix its inventory problems that have plagued its business in recent quarters.

At least 12 brokerages raised their price targets on the stock after Nike reported better-than-expected quarterly results on Tuesday, benefiting from higher discounts and strong demand in North America.

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