After moving sharply higher early in the session, shares of Nike, Inc. (NKE) have given back some ground but remain firmly positive in afternoon trading on Monday. Nike is currently up by 4.1 percent after reaching its best intraday level in nearly two months.

The early rally by Nike came after the athletic footwear and apparel maker was called the "best idea" for 2019 by an analyst at Citi.

According to a report from CNBC, the Citi analyst said Nike's global growth story remains intact and that the stock deserves a premium multiple.(DPA)

 

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