
More Squawk from Jim Cramer: Nike (NKE) Stock Has Long Been ‘Under Pressure’
Updated from 10:39 AM EDT.
NEW YORK (TheStreet) -- Shares of Nike (NKE) - Get Report are rising 1.75% to $54.65 late Monday morning as Piper Jaffray maintained its "overweight" rating and $69 price target on the athletic apparel company.
"Piper comes out with a note saying it's a little too cheap," TheStreet's Jim Cramer said on CNBC's "Squawk on the Street" this morning.
"This stock has been under pressure for a very long time. Actually, since it reported [earnings] last," Cramer added.
"The question is: Is domestic footwear coming back?" he asked co-host David Faber.
Cramer mentioned he thinks Foot Locker (FL) has an attractive story, noting the company sells Nike products domestically.
"I think Foot Locker is a buy," Cramer said in the above video. "Foot Locker has come down a lot."
"I just think (Nike) stock has really been beaten down," Cramer said, adding that basketball sneakers have been in the "doldrums."
"Maybe this one wakes up," Cramer said of Nike stock, "It's still expensive. No doubt about it, but I just think it's kind of spent its time in purgatory."
Under Armour (UA) stock has too, he noted.
Athletic apparel stocks have been pressured by Sports Authority's closure, Cramer added. But he said sentiment has become "too negative."
Separately, TheStreet Ratings Team has a "Buy" rating with a score of B on the stock.
The company's strengths can be seen in multiple areas, such as its impressive record of earnings per share growth, compelling growth in net income, revenue growth, largely solid financial position with reasonable debt levels by most measures and notable return on equity.
The team feels its strengths outweigh the fact that the company shows weak operating cash flow.
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this article's author.
You can view the full analysis from the report here: NKE










