Is Nike Stock Going to $102? 1 Wall Street Analyst Thinks So.
(NYSE: NKE) is a stock for players who want to win convincingly on the market. That, at least, is the view of one analyst tracking the athletic wear and apparel giant. He recently reiterated his optimistic outlook on Nike's prospects, suggesting that the stock's price could accelerate 31% before long.
That Nike bull is Paul Jejuez of ever-influential Big Four bank Citigroup. He published a new note on Nike, in which he maintained both his buy recommendation and $102 per-share price target.
Jejuez was compelled to publish an update following developments with a crucial Nike business partner in China: wholesaler and retailer Topsports. That company warned investors that its operating profit for the six-month period ending Aug. 31 would likely be down by around 35% year over year. This is due to softening consumer demand in the country, which has seen relatively weak economic growth in the past few years.
Source Fool.com
Nike Inc. B Stock
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 55.5% compared to the current price of 70.74 € for Nike Inc. B.
