Nike Struggles With Several Headwinds, But Trades At Multiples 'Last Achieved In 2017': Analyst
Portfolio Pulse from Priya Nigam
Nike Inc (NYSE:NKE) has been upgraded by Oppenheimer's Brian Nagel from Perform to Outperform, with a price target increase from $110 to $120. Despite ongoing challenges, the stock is trading at historically low multiples, suggesting potential for a rebound as the company focuses on product innovation and brand-building.
June 21, 2024 | 4:23 pm
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Oppenheimer's Brian Nagel upgraded Nike from Perform to Outperform, raising the price target from $110 to $120. The stock is trading at historically low multiples, suggesting potential for a rebound as the company focuses on product innovation and brand-building.
The upgrade from Perform to Outperform and the increased price target from $110 to $120 by a reputable analyst suggests a positive outlook for Nike. The stock's current low multiples, last seen in 2017, indicate it may be undervalued, and the company's focus on product innovation and brand-building could drive a rebound.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100