Nike Stock: Barclays Upgrades, Eyes Q3 Earnings
Raleigh News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
Barclays upgrades Nike stock to overweight, predicting a turnaround under new CEO Elliott Hill. Despite recent sales drops and competition, particularly in China, Nikes latest quarterly results showed a one percent revenue increase and earnings per share beating expectations. The stock has tested a downtrend multiple times without breaking out, now holding key support near fifty dollars. A bounce could target sixty dollars first, then seventy or more if momentum builds. The real test comes with third-quarter earnings on March thirty-first, where margin gains, wholesale trends, China updates, and inventory control will be crucial.
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