Why Nike Stock Is Sprinting Higher Today
(NYSE: NKE) shares have been on the defensive of late, but at least one Wall Street analyst believes the stock has bottomed out. Shares of Nike climbed 3% on Thursday after the stock was upgraded at Bank of America.
It's been a rough few years for Nike holders, with the stock losing about half of its value since mid-2021. The company is in the process of rethinking a lot of its retail initiatives, including its focus on direct-to-consumer over retail and its scattershot approach to branding.
Bank of America analyst Lorraine Hutchinson believes the stock is finally at an inflection point. The analyst, who has had a neutral rating on Nike shares for almost three years, upgraded the stock to a buy and boosted her price target by $3 to $113.
Source Fool.com
Nike Inc. B Stock
The stock is one of the favorites of our community with 63 Buy predictions and 2 Sell predictions.
With a target price of 110 € there is a hugely positive potential of 59.95% for Nike Inc. B compared to the current price of 68.77 €.
