Watch Nike as `Air' movie could spark buzz for Jordan brand - analyst
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Investors may want to watch Nike (NYSE:NKE) as the movie "Air" is released on Wednesday as it may generate buzz for the Jordan brand. 
"Air," which features a reteaming of Ben Affleck and Matt Damon, is the story of how Nike (NKE) signed NBA legend Michael Jordan to a contract and developed the Jordan brand into a global juggernaut. "Air" is distributed by Amazon's (AMZN) Amazon Studios.
"We think that `Air' has the potential to generate additional buzz around the Jordan brand and keep momentum high exiting FY23 (which ends next month)," Wedbush analyst Tom Nikic, who has an outperform rating and $139 price target on Nike (NKE), wrote in a note on Tuesday.
Nikic highlighted that the last time there was a Jordan-related piece of pop-culture entertainment was in 2020 when the documentary series the "Last Dance" was released on Netflix (NFLX). 
"We believe it created a lot of buzz around the Jordan brand, helping drive strong growth for NKE coming out of 2020's lockdowns," Nikic added.
Late last month Nike (NKE) opened its first Jordan Brand-only store in Japan.