We recently published Jim Cramer Discussed A Mysterious Yellow Light & These 9 Stocks.
NIKE, Inc. (NYSE:NKE) is one the stocks discussed by Jim Cramer
Athletic apparel retailer NIKE, Inc. (NYSE:NKE)’s shares are down by 33% over the past year and by 33.8% year-to-date. Wells Fargo downgraded the shares to Equal Weight from Overweight and cut the price target to $45 from $55 on May 8th. NIKE, Inc. (NYSE:NKE)’s market competition factored into the coverage as the bank pointed out that the firm was operating in a saturated market.
Cramer has also regularly discussed NIKE, Inc. (NYSE:NKE) over the past couple of months. Most of his remarks have been in the context of the firm’s turnaround, and as time has passed, the CNBC TV host has become more doubtful despite his confidence in CEO Elliott Hill. In this appearance, he discussed an article by The Wall Street Journal, which discussed consumers in China embracing locally designed goods: “I got to be honest yesterday there was an article about China, devastating for Nike.