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

As BlockFi files for bankruptcy, what to know about crypto investor protections
How to avoid mistakes with required minimum distributions from your retirement accounts
Stocks making the biggest moves midday: Zscaler, Marvell Technology, DoorDash and more
A Conversation With Scope Art Show’s Founder Alexis Hubshman
Salesforce stock falls over 5% on earnings and sudden departure of co-CEO Bret Taylor

Leave a Reply

Your email address will not be published.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