Veteran Retail analyst Brian McGough nailed another big move—his ‘Best Idea’ Long Nike (NKE) ripped over 17% after Thursday night’s earnings.
But as McGough says in this clip from The Call @ Hedgeye, that this could just be the beginning of a longer-term trend for the athleticwear giant.
"I've been covering Nike for I think 32 years and if there's one time you don't want to bet against this company, it's when they're deploying a lot of capital. That's one thing Nike is really, really good at." McGough says.
"When they're spending money and the topline is accelerating and margins are troughing, while inventories are heavy and correcting the amount of torque in this model is just really, really intense. But something tells me this stock could go a hell of a lot more."
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