This Is Why One Analyst Thinks Nike Shares Could Rally

A Credit Suisse analyst just said some very promising things about Nike.

According to the analyst’s note on Tuesday, the fitness shoe maker could outperform the market this year on the successful release of its new Air VaporMax shoe line this month.

The analyst, Christian Buss, noted that Nike that could take back the market share from Under Armour.

He wrote, “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.’

Buss has an outperform rating on the stock and raised his share price target to $67 from $60.

“In the near term, we are more positive than the street in our 3Q17 and FY17 revenue and EPS expectations. Longer term, we believe the company can maintain high single-digit topline growth and teens EPS growth, making it a true standout in the softlines space,” Buss also wrote.

This is great news for Nike as the stock was down more than 18% last year. It has seen a climb back in 2017 with shares up more than 11%.

Disclaimer: We have no position in Nike Inc (NYSE: NKE) and have not been compensated for this article.