Nike Shares Are Down 22% This Year: Why 2 Analysts Are Going Long
Portfolio Pulse from AJ Fabino
Nike Inc (NYSE:NKE) is set to release its Q1 earnings for FY2024 on Sept. 28, with Wall Street expecting earnings of 74 cents per share on revenues of $12.99 billion. Despite shares being down nearly 22% this year, analysts from Oppenheimer and Stifel are optimistic about the company's future performance. Oppenheimer analyst Brian Nagel reiterated an Outperform rating on Nike with a $150 price target, while Stifel analyst Jim Duffy maintained a Buy rating with a $13 price target.
September 21, 2023 | 6:41 pm
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POSITIVE IMPACT
Nike's shares are down 22% this year, but analysts from Oppenheimer and Stifel are optimistic about the company's future performance. They believe the company's continued demand in athleisure and rationalized channel inventories are pivotal points for potential growth.
The analysts' positive outlook on Nike's future performance, despite the drop in shares, indicates a potential for growth. They believe the company's continued demand in athleisure and rationalized channel inventories are pivotal points for potential growth. This could potentially lead to an increase in the company's stock price.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100