Morgan Stanley Maintains Underweight on Nike, Lowers Price Target to $27
Morgan Stanley analyst Alex Straton maintains Nike (NYSE:NKE) with a Underweight and lowers the price target from $31 to $27.
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JP Morgan analyst Matthew Boss maintains Nike (NYSE:NKE) with a Underweight and lowers the price target from $40 to $33.
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Morgan Stanley analyst Alex Straton maintains Nike (NYSE:NKE) with a Underweight and lowers the price target from $31 to $27.
Nike reported disappointing Q1 earnings with revenue declining 4% to $11.2 billion and missing analyst expectations. The company forecasted high single-digit revenue declines for the full fiscal year due to oversupply issues in Jordan brand, sportswear, and Greater China. CEO Elliott Hill's turnaround strategy, now in its third year, has failed to materialize, raising questions about his tenure as profits hit decade lows.
Goldman Sachs analyst Brooke Roach maintains Nike (NYSE:NKE) with a Neutral and lowers the price target from $38 to $30.
A weak September payrolls print pared bets on more Fed tightening, lifting both the Nasdaq 100 and Nvidia stock to record highs.