Why Nike Stock Is Sprinting Higher Today
(NYSE: NKE) shares have been on the defensive of late, but at least one Wall Street analyst believes the stock has bottomed out. Shares of Nike climbed 3% on Thursday after the stock was upgraded at Bank of America.
It's been a rough few years for Nike holders, with the stock losing about half of its value since mid-2021. The company is in the process of rethinking a lot of its retail initiatives, including its focus on direct-to-consumer over retail and its scattershot approach to branding.
Bank of America analyst Lorraine Hutchinson believes the stock is finally at an inflection point. The analyst, who has had a neutral rating on Nike shares for almost three years, upgraded the stock to a buy and boosted her price target by $3 to $113.
Source Fool.com
Nike Inc. B Stock
Currently there is a rather positive sentiment for Nike Inc. B with 71 Buy predictions and 6 Sell predictions.
As a result the target price of 64 € shows a very positive potential of 78.92% compared to the current price of 35.77 € for Nike Inc. B.
