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Payne's Picks

Can Nike Just Do it for Your Portfolio?

By Payne's PicksFOXBusiness

Can Nike kick your portfolio into high gear?

FBN’s Charles Payne, United Advisors Chief Market Strategist Scott Martin, Tea Party News Network News Director Scottie Nell Hughes, Monster Worldwide Senior V.P. Joanie Courtney, retail analyst Hitha Herzog and Penn Financial Group founder Matt McCall on the outlook for Nike.

Let’s talk about Nike (NYSE:NKE).

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It has been the premiere retail name around the world for years. I used to say they only had one competitor, today it’s really like none. Management is getting smarter about its place in the world and staying hip, even with nonconformists.

In addition to names like Tiger Woods, Rory McIlroy, Lebron, Kobe and Kevin Durant, they've signed a 19-year-old Chinese golfer, whose won three tournaments, Leticia Bufoni - a Brazilian skateboarder, and figure skater Gracie Gold. These guys are everywhere. They’re smart, they’re ahead of the curve.

The company just opened a second women's-only store in Shanghai, and one in Newport, Calif. that's 6,000 square feet. I think the stock goes to $140, but this is one of those stocks that you never really have to sell (right now that I can see).

Of course it won’t go there overnight. There will be occasional hiccups. By the way, they raised their dividends again. That’s 7 years in a row. That is just amazing strength.


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