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Nike Analysts Sour On Retailer’s Short-Term Prospects Following Poor Outlook: ‘No Quick Rebound’

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Nike Inc (NYSE:NKE) shares plummeted following bleak revenue numbers and lowered guidance in its fourth-quarter report.

Some analysts have soured on the Beaverton, Oregon-based company. Here’s what the Street is saying Friday after the print.

The Nike Analysts: The following analysts published notes on Friday.

  • JPMorgan analyst Matthew R. Boss downgraded Nike from Overweight to Neutral, lowering the price target from $116 to $83.
  • Goldman Sachs analyst Brooke Roach maintained a Buy rating, lowering the price target from $120 to $105.
  • Bank of America analyst Lorraine Hutchinson maintained a Buy rating, lowering the price target from $113 to $104.
  • RBC Capital Markets analyst Piral Dadhania maintained a Sector Perform rating with a price target of $100.
  • UBS analyst Jay Sole downgraded Nike from Buy to Neutral, lowering the price target from $125 to $78
  • Evercore analyst Michael Binetti maintained an Outperform rating, lowering the price target from $110 to $105.
  • Raymond James analyst Rick B. Patel downgraded Nike from Outperform to Market Perform.
  • Telsey analyst Cristina Fernández maintained an Outperform rating, lowering the price target from $115 to $100.
  • KeyBanc analyst Ashley Owens maintained a Sector Weight rating.

JPMorgan On Nike: Boss jokingly labeled Nike’s lowered fiscal year 2025 estimates a “shoe doghouse” (a reference to co-founder Phil Knight’s 2016 memoir.) Boss sees Nike as more of a long-term play.

“While NKE is the global athletic market leader with diversification across product categories, geographies, and distribution, we see an elongated timeline for …

Full story available on Benzinga.com

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