Keep an eye on Nike (NKE).
After gapping lower, it appears the stock is bottoming out, and could reverse higher. Helping, Goldman Sachs says it’s a buy here.
According to the firm, “Margins came in better than anticipated (+170 bps compared to the guide of +100 bps), while the analyst is also encouraged by NKE’s solid results during the early holiday season, as management highlighted nearly 10% growth and robust results during major holiday moments (Black Friday/Singles Day),” as highlighted by TipRanks.com.
Last trading at $108.02, Goldman Sachs has a $135 price target.