A Bull Market Could Be Here: 3 Reasons to Buy Nike Stock
Footwear and apparel giant (NYSE: NKE) hasn't quite been a bright spot for investors this year, down over 11% as of Aug. 20. Some concerns about Nike are business-related, but many are broader concerns about the economy and how that could affect consumer spending.
Whatever the reason, I believe the pessimism toward the company is shortsighted. Nike still presents a compelling opportunity for long-term investors.
Much has been made about Nike's slowing year-over-year (YOY) sales growth. In its fourth quarter (ended May 31), Nike's YOY sales were up 8% when accounting for exchange rate changes. While not too shabby, it's down from the 19% and 27% YOY growth it had in Q3 and Q2, respectively.
Source Fool.com
Nike Inc. B Stock
€67.80
-0.860%
With 61 Buy predictions and 2 Sell predictions Nike Inc. B is one of the favorites of our community.
As a result the target price of 110 € shows a very positive potential of 62.24% compared to the current price of 67.8 € for Nike Inc. B.
