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Telsey Advisory Cuts Nike Price Target - Read Why

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·1 min read
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  • Telsey Advisory Group analyst Cristina Fernández has lowered the price target on Nike Inc (NYSE: NKE) to $140 (32% upside) from $170 and kept Outperform rating on the shares.

  • The analyst cited near-term risks, including the impact of strict COVID lockdowns in China, demand decline in wholesale channel, given lowered expectations for 2H22 by key partners like Dick's Sporting Goods Inc (NYSE: DKS) as the factors that will influence its Q4 earnings.

  • Fernández expects the focus to be on the supply chain, including inventory on hand versus in transit.

  • While the near term is choppy, the analyst remains positive on NKE as demand for its products remains strong, given the benefit from enhanced connections with consumers.

  • Nike will release Q4 earnings on June 27, after markets close.

  • Citigroup analyst Paul Lejuez maintained Nike with a Neutral and lowered the price target from $157 to $123 (16% upside).

  • Seaport Global analyst Mitch Kummetz downgraded Nike from Buy to Neutral.

  • Price Action: NKE shares are trading lower by 2.50% at $105.96 on the last check Wednesday.

  • Photo Via Company

Latest Ratings for NKE

Date

Firm

Action

From

To

Mar 2022

Cowen & Co.

Maintains

Outperform

Jan 2022

Wells Fargo

Upgrades

Equal-Weight

Overweight

Jan 2022

Seaport Global

Initiates Coverage On

Buy

View More Analyst Ratings for NKE

View the Latest Analyst Ratings

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