NKE - Nike Shares Are Down 22% This Year: Why 2 Analysts Are Going Long | Benzinga
Nike Inc (NYSE:NKE) is set to release its first-quarter earnings for fiscal year 2024 on Sept. 28 after the market closes, with Wall Street expecting earnings of 74 cents per share on revenues of $12.99 billion.
With shares down nearly 22% this year, two analysts are highlighting the prospective performance and trajectory of the sporting giant, providing insights into the underlying factors shaping investor sentiment.
What Do Nike Analysts Think?
Oppenheimer Analyst: Brian Nagel reiterated an Outperform rating on Nike with a $150 price target.
Oppenheimer’s Takeaways: Nagel underscored the continued demand in athleisure and rationalized channel inventories as pivotal points. The analyst highlighted Nike's forward four-quarter PE multiple of just 24.2x and views the subdued Street forecasts and guidance as achievable, hinting at possible ...