Truist keeps a Hold rating and $85 price target on Nike, noting that the company’s announcement of a CEO change has now been “priced in” while its fundamentals remain “under pressure”, capping the stock’s near-term upside. Truist further notes that the current expectations for a sales ramp in the second half of FY25 “look optimistic”, and it sees a potential turnaround as a “long and uncertain process”, particularly given the current choppy macro environment and competition from higher-heat brands that continues to accelerate.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on NKE:
- Nike price target raised to $85 from $75 at RBC Capital
- Nike price target raised to $82 from $79 at Morgan Stanley
- Why Investors Are Likely to Lose Money with Nike (NYSE:NKE) Stock
- Foot Locker (NYSE:FL) Working on a Comeback, But Investors Skeptical
- Nike Q1 trends ‘should mark the trough,’ says BofA