Nike Stock Upgrade: Barclays Sees Turnaround

0:00You're listening to Derm News Today, powered by the Daily News Now. Nike stock has taken a beating lately, dropping about 25 percent over the past 12 months, and still down double did is this year. Investors are frustrated with slow sales growth and rising competition, hurting the sportswear giant. But Barclays just stepped in with a big upgrade, moving the stock to overweight and lifting its price target to $73 from $64. The bank argues, Nike is hitting a fundamental bottom after months of tough times. Earlier this week, they highlighted operational improvements and better financial trends showing up. Wall Street had grown skeptical about management's plan to revive the iconic brand, especially with uneven wholesale sales and rivals gaining ground. Many investors have been hunting for signs of a turnaround amid the brand's long history of comebacks. Barclays sees peak negativity and sentiment, pointing to more discipline actions from leadership as key evidence the slump is ending. That view is drawing attention ahead of earnings.

1:01Nike reports fiscal third quarter results after the market closes on March 31. Stronger North American trends and stable margins could validate the optimism and spark a rebound, while mixed numbers might fuel more doubt. Quick thanks to today's sponsor. See the description for more. S-Play. Put your head down. The sound is already there. S-O-L-I-SOLY-PILLOW.COM