2024-04-15 01:00:00 ET
Nike (NYSE: NKE) stock pulled back on its recent earnings report after it reported weak revenue growth and offered disappointing guidance. The update also showed that Nike was losing market share to up-and-coming competitors like On Holding and Deckers' Hokas.
However, Nike just got some good news via an endorsement from Bank of America , which upgraded the footwear stock on Thursday to a buy with a price target of $113.
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Nike Stock Has 22% Upside, According to 1 Wall Street Analyst