2 Green Flags for Nike Stock in 2023
Investors haven't been thrilled with (NYSE: NKE) stock so far this year. While the footwear specialist has posted generally strong operating results, Wall Street ignored those successes and instead favored more exciting growth stocks. Nike shares are down through early August while the S 500 is up 17%.
That underperformance might not last long. There are some good reasons to like Nike here, beyond just the relatively cheap price right now. Let's take a closer look at two factors that could drive higher returns for shareholders.
Nike's late-June earnings report was better than it might appear at first glance. Its reported 5% sales increase rises to 8% once you account for currency exchange rate swings. Nike's e-commerce sales, which reflect direct connections with consumers, plus higher margins, are booming. This sales channel was up 18% in the quarter that ended in late March.
Source Fool.com
Nike Inc. B Stock
The stock is one of the favorites of our community with 60 Buy predictions and 2 Sell predictions.
With a target price of 110 € there is a hugely positive potential of 51.24% for Nike Inc. B compared to the current price of 72.73 €.
