Nike's stock has faced a series of downgrades and price target cuts from multiple financial institutions. BofA Global Research has reduced its price objective for Nike to $104 from $113. TD Cowen has lowered its price target to $75 from $89, citing Nike's overexposure to mid-tier, fashion-based trends that are being disrupted by more premium-based brands. Goldman Sachs has adjusted its price target to $105, while Raymond James downgraded Nike to Market Perform from Outperform. UBS downgraded Nike to Neutral and slashed its price target to $78 from $125, noting that fundamental trends are worse than anticipated. Guggenheim has also lowered its price target to $115 from $130, and Wells Fargo adjusted its target to $92 from $115. Stifel has downgraded Nike to Hold and cut its price target to $88 from $117.
Stifel Downgrades $NKE to Hold, Cuts PT to $88 from $117
Why analysts are rushing to downgrade Nike $NKE stock https://t.co/5ZlGTXfC8Z https://t.co/TMfLKI88EP
$NKE PT Lowered to $75 at TD Cowen
UBS downgrades NKE to Neutral, slashes price target to $78.00 from $125.00 as "fundamental trends are much worse than we realized"
$NKE PT lowered $105 at Goldman Sachs BUY $NKE PT lowered to $75 from $89 at TD Cowen $NKE downgraded to Market Perform from Outperform at Raymond James $NKE downgraded to Neutral from Buy UBS $NKE PT lowered to $115 from $130 at Guggenheim BUY $NKE $92 from $115 at Wells Fargo…
Here’s what analysts have to say post $NKE ER: TD Cowen ("Hold," PT: $75): "Nike has become overexposed to mid-tier, fashion-based trends that are being disrupted by more premium-based brands. The concept of being all things to all consumers in the sector is effectively over and… https://t.co/KOOdA9zpCA https://t.co/g4POoad2V5
TD COWEN: “.. Nike has become over exposed to mid-tier, fashion-based trends that are being disrupted by more premium based brands .. The concept of being all things to all consumers in the sector is effectively over and $NKE management needs to pivot.” Cuts to $75 (prior $89) https://t.co/mz8VnTMZR0
$NKE | Nike: BofA Global Research Cuts Price Objective To $104 From $113