NKE Nike Inc

Nike (NYSE:NKE) is set to resume selling its products directly on Amazon (NASDAQ:AMZN), marking a return to the e-commerce giant after ending its previous partnership in 2019. This development, confirmed by an Amazon spokesperson and first reported by The Information, has been welcomed by Wall Street analysts as a strategic move under new CEO Elliott Hill.

Truist analysts expressed optimism about the decision, viewing Nike’s renewed presence on Amazon as a sign of a stronger wholesale approach and better product availability. They also highlighted Amazon’s improved efforts to tackle counterfeiting issues, which have historically been a concern for Nike.

“Amazon’s Counterfeit Crimes Unit has made significant progress in cleaning up the platform,” Truist noted.

Between 2017 and 2019, Nike ran a pilot program with Amazon but later stepped back to prioritize its direct-to-consumer channels. Despite this, third-party sellers continued to offer Nike merchandise. However, this week Amazon informed some sellers that certain Nike products would no longer be allowed for sale starting July 19, indicating the brand’s renewed direct relationship with the platform.

Jefferies analysts also applauded the move, urging investors to “Just Buy It!” and reaffirming their Buy rating on Nike stock.

“This initiative broadens Nike’s reach and solidifies its position as the top athletic footwear brand,” Jefferies commented.

Both Truist and Jefferies highlighted Nike’s broad product portfolio and strong brand loyalty as critical strengths. Jefferies pointed out that Nike’s stock valuation “remains undervalued” and praised CEO Hill’s leadership, saying he is “making all the right moves.”

“We appreciate this move by Nike, plain and simple,” Jefferies said. “It strengthens Nike’s brand ubiquity. The company’s wide-ranging products and price points support a large total addressable market (TAM) and served available market (SAM). We believe these factors are currently underappreciated by the market.”

With the valuation still compressed at current levels, Jefferies sees significant potential upside over the next one to two years. Their final advice: “Just Do It — buy NKE shares.”

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