Nike Upgraded: Analyst Optimistic Despite Lengthy Process And Competitive Challenges
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Oct 10 2024
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Source: Benzinga
Analyst Upgrade: Truist Securities analyst Joseph Civello upgraded Nike, Inc. to a Buy rating and raised the price target to $97, citing more realistic investor expectations despite ongoing challenges in the company's turnaround process.
Company Leadership Changes: The rehiring of veteran Tom Peddie and the appointment of new CEO Elliot Hill are seen as crucial steps for Nike's recovery, with near-term strategies like increased marketing and improved wholesale relationships expected to boost investor confidence.
Analyst Views on MVAL
Wall Street analysts forecast MVAL stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for MVAL is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
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Current: 38.387
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Current: 38.387
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
