Key Takeaways Nike stock outperformed the market, rising 5% in intraday trading Monday after Jefferies analysts recommended buying "aggressively."The analysts said Nike shares could add more than 40% in value.

Shares of Nike advanced about 5%, one of the best performers in the S&P 500 Monday, after Jefferies raised its recommendation on the stock to buy from hold. The investment bank cited Nike Chief Executive Elliott Hill's strategy to reposition the sportswear brand after years of missteps.

What Happened? Shares of pet food company Freshpet (NASDAQ:FRPT) jumped 7.9% in the afternoon session after Jefferies upgraded the stock's rating from Hold to Buy and assigned a price target of $150,

Freshpet (NASDAQ:FRPT) gained over 6% in pre-market on Monday as Jefferies upgraded the American pet food company shares to Buy from Hold, citing that its valuation is at a five-year low, and its shares are worth 50% above where it is trading.