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Nike Upgraded to “Neutral” at McAdams Wright Ragen (NKE)

By Dividend.com,  June 14, 2012, 08:46:02 AM EDT

Athletic footwear and apparel maker Nike, Inc. ( NKE ) on Thursday caught some positive commentary from analysts at McAdams Wright Ragen.

The firm said it boosted its rating on NKE from "Sell" to "Hold," noting the stock has now pulled back to a fair value. The analyst had previously made a sell call on the shares following a massive ~150% run from March 2009 to May 2012.

Nike shares were mostly flat in premarket trading Thursday.

The Bottom Line
Shares of Nike ( NKE ) have a 1.41% dividend yield, based on last night's closing stock price of $102.22. The stock has technical support in the $97-$101 price area. If the shares can firm up, we see overhead resistance around the $105-$110 price levels.

Nike, Inc. ( NKE ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Stocks

Referenced Stocks: NKE



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