Nike Inc NKE has had a tough year, with the stock having lost more than 6.5 percent since the beginning of 2016. Moreover, after hitting a high on March 22, it lost about 10 percent. Following such underperformance, top raters at the Vetr community seem to believe some upside potential has been unlocked.
Related Link: Here's How Crowdsourced Ratings Can Beat The Market
On Friday, top raters at the Vetr community decided to upgrade their rating on the stock from 4.0 Stars (Buy) to 4.5 Stars (Strong Buy) - out of a possible 5.0 Stars rating.
The new rating better represents the crowd’s average price target of $65.33, which implies an upside potential of almost 12 percent from current valuations.
Finally, it should be noted that 87 percent of the crowd's ratings on Nike are now bullish.
Disclosure: Javier Hasse holds no positions in any of the securities mentioned above.
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