KUALA LUMPUR, Dec 5 (Bernama) -- Bursa Malaysia closed lower on Friday amid mixed regional market performance as investors turned cautious over a possible rate hike by the Bank of Japan (BOJ) and upcoming US economic data that may influence the Federal Reserve’s (Fed) interest rate decision next week. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) pared most earlier losses to settle 4.55 points easier, or 0.28 per cent, to 1,616.52 from Thursday’s close of 1,621.07. The benchmark index, which opened 0.37 of-a-point lower at 1,620.70, moved between 1,609.67 and 1,621.25 throughout the day. The broader market was negative, with decliners outpacing advancers 604 to 439. A total of 550 counters were unchanged, 1,151 untraded, and 18 suspended. Turnover declined to 3.17 billion units worth RM2.24 billion from 4.48 billion units worth RM2.75 billion yesterday. Rakuten Trade Sdn Bhd vice-presiden...
Nike Stock Could See 19% Upside on Turnaround, J.P. Morgan Says
Upgrade: J.P. Morgan upgraded $Nike (NKE.US)$ to Overweight from Neutral and raised its price target to $93(from $64).
Current price: $78.37 premarket; target implies ~19% upside.
Key driver: Analysts led by Matthew Boss see Nike on a “multiyear recovery path” as it aggressively clears excess inventory and reduces discounting by 1H2026.
Highlights:
Inventory cleanup: Ongoing liquidation via Factory stores and partners to rebalance supply-demand.
Holiday orders: Management noted Y/Y improvement, signaling momentum.
Recent earnings: Q4 sales -12% Y/Y but beat expectations; positive guidance boosted shares ~27% since June 26.
Strategic outlook: Focus on scaling Performance product pipeline and rebuilding wholesale order books.
Long-term: Boss projects Nike could return to pre-pandemic profitability beyond 2028.
📌 Quote from the report: “Nike is a global athletic market leader … Just buy it!”
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