Nike Stock: Comeback Time?

Early Bird Prime for April 14, 2024

April 14, 2024

Nike (NYSE: NKE) has been struggling for quite some time now and can't catch a break.

The stock is down 13.66% in 2024 at a measly $92 per share. It is up 4.18% in the last five years while the S&P 500 has been partying it up with a 74.27% increase during the same time. 

But just a few days ago, analysts from Bank of America swooped in like a knight in shining armor, posting an uplifting report about Nike. They even upgraded the stock’s rating to "buy" from "neutral" and increased the price target to $113 from $110. Talk about a confidence boost!

Those analysts believe that Nike is bottoming out and has the potential for a comeback.

Is Nike ready for a comeback or Just doing it wrong? More importantly, should investors jump on the Nike bandwagon now that the stock has hit rock bottom? 

Well, here’s the answer:

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