Nike Stock Gets an Upgrade. Investors Are Too Skeptical, It’s Time to Buy, Analyst Says.

Nike stock got upgraded by Barclays analysts Wednesday, citing investors’ “peak skepticism” about the sportswear giant’s prospects and signs of operational progress. Barclays upgraded Nike shares to Overweight from Equal Weight in a note published Wednesday, with a new price target of $73, up from $64. The sportswear retailer’s stock has slumped 26% over the past year, lagging the which has climbed 21% over the same period.