Just 26% of Wall Street Analysts Rate Nike a Buy. Is It Time to Be Greedy While Others are Fearful?
In late 2024, Nike (NYSE: NKE) brought on veteran executive Elliott Hill to replace John Donahoe as CEO and execute a new turnaround strategy. Two years later, investors are still waiting for the turnaround to show progress, and the stock price has been cut by more than 50%.
Wall Street analysts have lost hope that Nike will return to its former glory. Just 11 of the 43 analysts covering the company rate the stock a buy or overweight. The median price target for the stock is below its current price as of this writing.
Sometimes the best opportunities in the market appear just as it seems everyone has given up on a company. Is it time to be greedy while others are fearful for Nike’s future?
Source: www.fool.com — article syndicated from the publisher’s feed; all rights remain with the original publisher.