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Merrill Lynch Says Buy These 2 Hammered Sports Apparel Giants Now

Last week was a vicious week for investors as the markets got pounded on a generally rising fear that interest rates will be raised in December. As we have reminded our readers, the rate increase most likely will be a puny 25 basis points, or one-quarter of 1%. This should have little if any effect, other than psychological, and now is the time to scoop up two top discretionary apparel stocks that got hammered.

While the consumer discretionary stocks were pounded last week, it is still the biggest gaining sector in the S&P 500 this year, up a whopping 10.52% as of the close on Friday. Two stocks in the sector that are absolute leaders got mauled and analysts across Wall Street are urging savvy investors to buy them now.

The analysts at Merrill Lynch are huge fans of both stocks and have them each rated at Buy.

Nike

This stock has had an outstanding year so far, still up a sizzling 25%. Nike Inc. (NYSE: NKE) is a worldwide athletic giant and a top consumer discretionary name. It posted very strong fiscal fourth-quarter earnings in June. The company also has outstanding potential upside from a turnaround in its China business, improvements in gross margins and continued innovation-driven market share gains in both basketball and running footwear. With one of...


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