It's a "gutsy thing to do," but Boss is a very well-respected analyst, TheStreet's Jim Cramer, co-manager of the Action Alerts PLUS portfolio, said from the floor of the New York Stock Exchange.
What management has better insight into Nike than Foot Locker? The company gets the new-issue sneakers, high-end shoes and first call on all the top products, Cramer explained. That's how Boss can make his call.
"I want to be careful on Nike," Cramer warned. While the stock still has plenty of long-term upside, the competition it's feeling from both Adidas and Under Armour (UA) - Get Report is a lot to handle. "One competitor is OK, but two is tough," Cramer concluded.
At the time of publication, Cramer's Action Alerts PLUS had no position in companies mentioned.