📉   The Nike Story Isn't Over Yet (Rating Upgrade)

Investing

While Nike (NYSE:NKE)'s recent underperformance and guidance cut was unexpected, I believe the stock is even a better buy following the recent weakness. Buying blue chips that look like fallen angels is never easy with timing, but Nike's current multiples and conditions look as good as they can get if we look at historical patterns. In this article, I share some reasons involving fundamental trends, Nike's characteristics, valuation and technical considerations that support my decision to upgrade NKE to a Strong Buy.

seekingalpha.com     Jul 25, 2024