Down 65%, Should You Buy Nike Stock?
(NYSE: NKE) is the largest activewear company in the world, by far, and the largest of any kind of apparel company in the U.S. However, it's going through some rough times, and the stock is 65% off its all-time high. This could look like a value trap, but if you're looking for a value stock or reliable passive income, and you have the time to wait out the recovery, Nike stock could fit the bill. Here's why.
Nike has nearly $48 billion in trailing 12-month revenue, making it larger than all of its major activewear competitors combined. It's also larger than other major U.S. apparel companies like , American Eagle, and Levi Strauss. It has an unbeatable brand, with the highest brand value in the world at more than $71 billion, according to Statista.
That has clear implications for its overall health despite recent setbacks. Sales have been declining over the past few years after a number of missteps. It made a major pivot to focus on its direct-to-consumer channels, cutting out long-held wholesale relationships, and the timing was wrong as people cut back on discretionary spending.
Source Fool.com
Nike Inc. B Stock
With 60 Buy predictions and not a single Sell prediction Nike Inc. B is an absolute favorite of our community.
As a result the target price of 73 € shows a positive potential of 30.33% compared to the current price of 56.01 € for Nike Inc. B.
