Nike Stock is Climbing: What's Going On?

Nike Inc. (NYSE:NKE)/a> shares are gaining Thursday. A wave of analyst calls hits the stock. Here's what you should know.

li>Nike stock is moving in positive territory. What's pushing NKE stock higher?/li>

Nike Stock Rises as Analysts Split On Outlook

Barclays analyst Adrienne Yih stayed at Overweight on Nike Thursday and raised the price target to $45 from $37.

More news today includes Wolfe Research analyst Spencer Hanus, who opened coverage at Underperform with a $28 price target. Guggenheim analyst Simeon Siegel and BTIG analyst Robert Drbul, meanwhile, each stuck with Buy and a $50 price target.

Across 25 analysts, Benzinga's consensus rating is Hold. The average price target is $38.04, and individual targets run from $19 to $75.

Nike Launches Barcelona Collection With Tyler, The Creator

Nike also launched a collaboration last week. On October 15, it teamed with FC Barcelona and Spotify on an 11-piece collection created in collaboration with Tyler, The Creator, founder of the GOLF WANG brand. The designs draw on the club's heritage and the artist's creative vision.

Nike paired the launch with (The) Creator's Àgora, a cultural space in Barcelona's Gothic Quarter that stays open through October 25, the day of El Clásico. Buyers can find the collection at the Àgora, Barça Stores, golfwang.com and GOLF stores in five cities. Select Nike stores and the club's online shop also carry it, and Nike.com and SNKRS will add it soon.

Nike Rebounds Inside a Longer Downtrend

Nike has gained approximately 3% over five days and 6% over a month, lifting the stock to around $38, its highest price since September 8.

The rebound still sits inside a larger downtrend. Shares trade well below the 200-day average of $46.87, and they have recovered only part of the slide from the May 28 peak of $47.65 to the October 2 low of $31.97.

Momentum favors buyers for now. Nike has retaken its 50-day average at around $37.25, and MACD readings show strength, with the indicator above both its signal line and zero. Falling back under $37.25 on a closing basis would erase the latest gain, while the 20-day average at $35.79 offers a cushion. Resistance at $41.50 is the next test.

NKE Shares Are Moving Higher

NKE Price Action: Nike shares were up 1.71% at $38.17 at the time of publication on Thursday, according to Benzinga Pro./p> div class="bz-read-next-block" data-variant="card" data-news-mode="manual" >

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