Nike (NKE) PT Raised to $95 at Wells Fargo

Nike's stock has been on a tear lately, and analysts are taking notice. Wells Fargo is the latest firm to raise its price target on the stock, citing Nike's strong brand and continued growth potential.

The firm's new price target of $95 represents a 10% upside from Nike's current price of $86. Wells Fargo analyst Ike Boruchow says that Nike is "well-positioned to continue to grow its market share in both developed and emerging markets."

Nike has been one of the best-performing stocks in the S&P 500 index over the past year, rising more than 30%. The company has benefited from strong demand for its products, particularly in China. Nike is also expanding its e-commerce business, which is helping to drive growth.

Wells Fargo's price target increase is just the latest in a series of positive analyst reports on Nike. In recent weeks, several other firms have raised their price targets on the stock, including Goldman Sachs and Morgan Stanley.

The analyst consensus price target on Nike is now $93, which represents a 9% upside from the current price. This suggests that analysts are bullish on Nike's stock and believe that it has further room to run.