Is Nike Stock Going to $70?
(NYSE: NKE) is the leading sportswear brand, with $46 billion in annual revenue. But the company has dealt with weak sales over the past few years. The stock is currently trading near $61, down 22% over the last 12 months and 65% from its all-time high.
Last year, the company brought in longtime company veteran Elliott Hill as its new CEO to turn things around. The latest quarterly financial results show progress on the turnaround plan, but management's comments suggest it still has a way to go before investors see meaningful results. Here's what this means for the stock's prospects, and whether investors can see a rebound soon.
Image source: Nike.
Source Fool.com
Nike Inc. B Stock
€47.24
0.380%
The stock is one of the favorites of our community with 72 Buy predictions and 1 Sell predictions.
With a target price of 70 € there is a positive potential of 48.18% for Nike Inc. B compared to the current price of 47.24 €.
