Nike Inc NKE has had a tough year, with its stock losing more than 16.5 percent of its value. However, the Vetr crowd seems to believe shares are ripe for a rebound, as evidenced by its average price target of $58.05, which implies a potential return of roughly 11.5 percent from current valuations.
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Seeking to better reflect the aforementioned upside potential, the Vetr community upgraded its rating on shares of Nike, from 4.0 Stars (Buy) to 4.5 Stars (Strong Buy) – out of a possible 5 Stars rating.
It should be noted that, in accordance with the current score and price target, 83 percent of the crowd’s ratings are bullish right now.
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