Nike's Stock Outlook for 2024: Analyst Foresees Limited Growth Opportunities Post Q3 Earnings
Friday, 22 March 2024, 17:53
Analyst Predicts Minimal Growth Potential for Nike Stock
Wall Street's Reaction to Nike's Fiscal 2024 Q3 Earnings
- Nike's latest earnings report shows flat sales, resulting in a cautious stance from analysts.
- RBC Capital downgrades Nike's stock rating to 'hold' and trims the price target.
Despite the profit dip, ongoing inventory cuts and weak sales trends suggest limited growth outlook for Nike.
Looking Forward
- Continued sluggishness expected through 2024 with challenges in growth rebound.
- Investors advised to explore alternative investments within the athletic industry.
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This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.