Why Nike Stock Tripped and Fell Today
Shares of sportswear icon Nike Inc. (NYSE: NKE) sold off early Tuesday and remain down 4.1% as of 1 p.m. ET after suffering a downgrade to "equal weight" from British banker Barclays this morning.
According to Barclays, Nike stock is no longer heading to $125 but will rather max out closer to $110 per share 12 months from now -- and that's the good news.
After all, $110 is at least above the $102 and change that Nike stock sells for today, implying there might still be as much as 7% upside in the stock, which also pays a modest 1.1% dividend yield. So that's 8% or so in potential profit despite the downgrade.
Source Fool.com
