Hot picks: Footwear stocks
The transition from winter to spring is usually a time when shoe brands release new styles and boost demand for their products, which is why one analyst is bullish on the space.
In an interview with BNN Bloomberg’s Paul Bagnell, Tom Nikic, analyst at Wedbush Securities Inc., said seasonality and a possible gain in market share by brands like Nike has positioned this sector for growth in the weeks ahead.
“We’re starting to get into spring and this is when you start to see some spring styles start to come into vogue,” he said.
Nikic recommended Deckers Outdoor Corp. (DECK), Skechers USA Inc. (SKX) and Nike Inc. (NKE) as his top three picks in the footwear sector.
He, his family members, his firm and his investment banking clients do not own shares of the stocks mentioned above.
Check out the full video at the top of the article to learn more.