Nike Inc (NKE) Up 3.7% On Friday And Hits All-Time High: How?

Nike Inc (NYSE:NKE) had a very eventful week with share prices going above $100 and hitting an all-time high. The stock had gained nearly 3.72% on Friday with stock closed the day at $101.98 per share. This was also the best performing stock in Dow Jones Index on Friday. FBN’s Nicole Petallides reported on Fox Business about the key highlights from the street on Friday and about Nike Inc (NYSE:NKE)’s incredible rally.

Petallides reported that Dow Jones Index went up by 168.62 points on Friday, which was nearly 1% upside movement on a single day. Nike Inc (NYSE:NKE) was the major contributor to this upward movement of DJI as the stock went up by around 3.72% on Friday.

“Great day on wall street. Lot of greens arrows. Nike soars higher, moves to an all time high after doing so well with their footwear and apparel and really ‘wow’ing the analysts on wall street,” Petallides said.

Nike Inc (NYSE:NKE) has done so well in the last one year, with stock picking up from the low of $70.6 in April and went up by more than 40% to reach an all-time high and break the $100 barrier.

Meanwhile Deutsche Bank also raised their price target on Nike Inc (NYSE:NKE) from their original target of $102. They have not set a price target of $110 on Nike Inc (NYSE:NKE) stock.

The company has delivered a strong quarter earnings despite a lot of headwinds that it had to face. Nike Inc (NYSE:NKE) did not meet the consensus target and even its own guidance for revenues in the quarter, but still 13% upward movement in revenues please the investors and the street.

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