Investors Are Making a Big Mistake by Overlooking Nike's Ace in the Hole
So far, 2023 has been a strong year for the broader stock market. Unfortunately, (NYSE: NKE) has not shared in that growth. The sports apparel giant's stock is down by more than 15% year to date and off by a painful 45% from its all-time high.
Nike stock has been under pressure thanks to mounting concerns that consumers are pulling back on spending, particularly on discretionary purchases like premium-priced shoes and athletic wear.
The good news is that Nike is in a league of its own, both in terms of the strength of its brand and its ability to engage directly with consumers. Here's why this blue-chip stock is worth buying now.
Source Fool.com
Nike Inc. B Stock
€85.76
-0.150%
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 34.1% for Nike Inc. B compared to the current price of 85.76 €.
