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Nike shares to rally on new Air VaporMax shoe, Under Armour’s struggles, Credit Suisse says

March 15, 2017

Via: CNBC

Nike shares will continue to outperform the market this year on the successful release of the new Air VaporMax shoe line this month and as the footwear and apparel giant takes back market share from Under Armour, a Credit Suisse analyst said in a note Tuesday.

“We are becoming increasingly bullish on Nike as we see a series of incremental revenue catalysts that suggest the recent period of market share losses will moderate in 2017,” wrote Christian Buss, who reiterated an outperform rating on the stock and raised his share price target to $67 from $60.

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