I Love Nike's Long-Term Prospects, but I Also Can't Ignore Its Near-Term Challenges
If you were lucky enough to own a piece of Nike (NYSE: NKE) prior to Thursday's close, congratulations are in order. Shares of the athletic apparel company popped following the release of its fiscal 2024 first-quarter numbers and encouraging expectations for the quarter now underway.
Specifically, per-share earnings of $0.94 were up slightly year over year, and they easily topped the analyst consensus estimate of $0.75 per share. Moreover, management believes profit margins will not only widen going forward, but its beleaguered business in China is positioned for a recovery.
And maybe that's exactly what's in store.
Source Fool.com
Nike Inc. B Stock
€87.95
0.480%
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 30.76% for Nike Inc. B compared to the current price of 87.95 €.
