Bank of America upgrades Nike after missing the rally in the stock

Investing

Workers install a Nike logo lamp outside the Wukesong Arena in Beijing, August 28, 2019.

Tingshu Wang | Reuters

Nike is staying ahead of the headwinds of the retail industry, according to Bank of America.

The firm upgraded Nike to neutral from underperform and hiked its price target to $98 from $70, catching up to the stock’s recent rally that the firm did not anticipate. Nike’s stock closed at $93.88 on Friday.

Articles You May Like

British oil major BP reports sharp drop in fourth-quarter profit, vows strategy reset
Why benefit increases prompted by the Social Security Fairness Act may be difficult to implement
You could see this tax form for the ‘first time ever’ this season, taxpayer advocate says
Here’s how two apps are connecting Black-owned restaurants with new customers
Warren Buffett’s Berkshire Hathaway sells some DaVita, shares fall on disappointing guidance

Leave a Reply

Your email address will not be published. Required fields are marked *