History Says Nike Stock Is Cheap Right Now. Is It Time to Buy?
(NYSE: NKE) is unusually cheap these days after Wall Street left it out of the recent rally. Shares declined 7% in 2023, in fact, to make the footwear giant one of the worst-performing members of the Dow Jones Industrial Average.
There were some good reasons for the slump, as Nike is struggling with weak demand trends and a heavily promotional selling environment. These challenges won't last forever, though, meaning patient shareholders have a chance to see excellent returns from buying the stock while pessimism is running high on Wall Street.
But is Nike a good buy or a value trap right now? Let's dive right in.
Source Fool.com
Nike Inc. B Stock
€85.96
1.790%
The stock is one of the favorites of our community with 46 Buy predictions and 3 Sell predictions.
With a target price of 115 € there is a positive potential of 33.78% for Nike Inc. B compared to the current price of 85.96 €.
