NKE - Nike Stock Jumps On Upgrade To Buy As Analyst Says It's 'Time To Just Do It' | Benzinga
Nike Inc (NYSE:NKE) shares are trading higher Thursday following an upgrade from BofA Securities.
What Happened: BofA analyst Lorraine Hutchinson upgraded Nike from Neutral to Buy on Thursday and raised the price target from $110 to $113, noting that “it’s time to just do it.”
Full-year earnings estimates for Nike have fallen 35% over the last two years. When paired with the fact that the stock is trading at 10-year lows on a price-to-earnings basis, BofA believes it’s time to buy.
“We are upgrading Nike to Buy (from Neutral) as estimates finally look achievable, Nike ...