Chart of Day: Nike (NKE) – 4/28

Keep an eye on Nike (NKE).

With a yield of 1.56%, it’s slowly starting push higher again – with a good deal of negativity priced in. Helping, analysts at Stifel have a buy rating with a price target of $119. “Considering the market leading position and structural margin opportunity, we continue to view shares worth a premium,” they added, as quoted by Barron’s.

Bank of America also upgraded Nike to a buy with a target of $118. The firm cited the company’s efforts to transform with cost cuts, and the expected benefit from the upcoming Olympics in Paris. Plus, I’m encouraged by the company’s new line of footwear and apparel, which was recently debuted.

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