Nike shares are trading higher after B of A Securities upgraded the stock from Neutral to Buy and raised its price target from $110 to $113.
Portfolio Pulse from Benzinga Newsdesk
Nike's stock price increased following an upgrade from B of A Securities, changing its rating from Neutral to Buy and raising the price target from $110 to $113.
April 11, 2024 | 11:42 am
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POSITIVE IMPACT
Nike's stock price is expected to see a short-term increase following the upgrade by B of A Securities from Neutral to Buy and a higher price target set at $113.
Upgrades by major financial institutions like B of A Securities typically lead to a positive short-term reaction in the stock market. The increase in the price target to $113 further strengthens the positive outlook for Nike's stock, suggesting a strong vote of confidence in the company's future performance.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100