Will Nike's Stock Price Sink to $23? Here Are the Bear, Base, and Bull Cases Over the Next Year.
A $75 price target is intriguing, but Nike's challenges still loom large.
Overview
Once an iconic brand, Nike (NYSE: NKE) is in the midst of a turnaround that, while showing some signs of progress, is taking longer than expected. The company is seeing improving wholesale revenue, but slumping sales across its Greater China segment and its Converse brand are still concerns.
While some analyst price targets look favorable, one bearish view, which prices the stock at $23, suggests further downside could be ahead.
Image source: The Motley Fool.
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Originally published at www.fool.com.
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