Nike (NYSE:NKE), Foot Locker (NYSE:FL), Under Armour (NYSE:UA), Dick's Sporting Goods (NYSE:DKS)
Cramer does not think Nike is guilty by its association with FL, which reported shocking cut in first quarter earnings estimates. Although Nike is not quite a "slam dunk" yet, because its performance has not been good, Cramer thinks the stock will exceed low expectations because of its popularity in China and because it has yet to move; "What I like about Nike best is that it's a great growth stock that's done nothing. It's very hard to find great growth stocks that have not advanced here, and Nike's the one." Cramer comments Nike is a performance-oriented brand, and added, "I believe that they can do fashion, but it's going to be in the Cole Haan kind of fashion." Another factor, he added is if UA is going to go after NKE, and Cramer commented on UA's estimated 25% growth when people were expecting 40%. While many predict NKE is going to have a bad quarter, "my sources indicate just the opposite," said Cramer, and suggested looking at DKS' quarter. Nike was at $54.25 on Monday, and Cramer comments it should reach $60 before it's fairly valued.Seeking Alpha publishes a summary of Jim Cramer's stock picks every day including: Mad Money Recap, Lightning Round, Stop Trading and his Wall Street Confidential Picks.
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