May. 23 at 6:02 PM
$NKE is starting to look really cheap.
The stock is trading at one of its lowest forward P/E levels in years, while revenue is still expected to remain around the same range and eventually recover.
That does not mean Nike is perfect.
The company has real issues to fix with growth, margins, product momentum, and execution.
But that is also why the opportunity exists.
The market is pricing
$NKE like the brand is permanently damaged.
I am not convinced that is true.
Nike is still one of the strongest consumer brands in the world.
If the turnaround starts showing up in the numbers, this valuation could look way too cheap in hindsight.
