Shares of Nike Inc NKE has lost more than 10.3 percent of their value since the year started, and almost 5.5 percent over the past month alone. Following such a decline, some upside potential has been unlocked, the crowd seems to believe.
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 shares of Nike, from 4.0 Stars (Buy) to 4.5 Stars (Strong Buy) - out of a possible 5.0 Stars rating.
The new rating seems more aligned with the crowd’s target price of $62.64, which implies an upside potential of roughly 11.7 percent from current valuations.
However, it should be noted that 87 percent of the crowd’s rating are bullish, meaning that the crowd as a whole is as optimistic as the top raters.
Disclosure: Javier Hasse holds no positions in any of the securities mentioned above.
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