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


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

3 Of The World’s Best Places To Live In Your 60s
If Social Security benefits were cut, here’s how much more you’d need to save for retirement
Automakers grow frustrated over pace of UAW negotiations as new strike deadline looms
Powerball jackpot hits $1.2 billion. What’s the best payout option? Experts weigh lump sum versus annuity
Could Your Ancestry Be Your Ticket To Life In Europe?

Leave a Reply

Your email address will not be published.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