Reported over 1 year ago
Nike (NYSE: NKE) reported better-than-expected earnings for the quarter, but disappointed investors with a decline in revenue, leading to an 18% drop in Nike shares. The company's forecast of revenue decreasing in the new fiscal year has caused several Wall Street analysts to downgrade Nike's rating and lower their price targets. Despite promising signs of efficiency and expected rebound in demand, analysts and investors are now looking towards a longer timetable for a turnaround, making the stock attractive for patient investors who believe in Nike's growth potential.
Source: YAHOO