Why Nike Stock Stumbled Today
Nike (NYSE: NKE) is on the cusp of reporting its latest earnings, and judging by their reaction Monday, investors aren't very confident about this. Despite a bullish analyst reiterating his buy recommendation on the stock that morning, a nervous market pushed the athleticwear and shoemaker's share price down by nearly 3%.
The positive note on the stock came from Jefferies prognosticator Randal Konik, who still considers Nike to be a buy at a price target of $115 per share. This implies nearly 12% upside to the stock's current level.
Konik continues to be optimistic about Nike's prospects in the face of numerous challenges facing consumer goods companies.
Source Fool.com
