Analyst: Blue-Chip Apparel Stock Is a 'Buy'
NKENIKE(NKE) Schaeffers Research·2024-04-11 22:52

BofA Securities upgraded Nike Inc (NYSE:NKE) stock to "buy" from "neutral" this morning, hiking its price target to 113from113 from 110. The shares were last seen up 2.5% to trade at 91.19,astheyworktoreboundfromtheirlowestlevelssinceSeptember.Pressurefromthe20−daymovingaverageappearstobekeepingtoday′sgainsincheck,however,andaceilingmaybeformingatthe91.19, as they work to rebound from their lowest levels since September. Pressure from the 20-day moving average appears to be keeping today's gains in check, however, and a ceiling may be forming at the 92 level. Despite NKE's 15.9% year-to-date deficit, options bulls are also chiming in. So far today, 21,000 calls have already c ...