Argus keeps a Hold rating on Nike after its “disappointing” Q4 earnings last week. The firm remains concerned with the company’s inventory levels and believes that Nike needs to cut prices to clear that inventory, which will weigh on margins and earnings over the coming the analyst tells investors in a research note. Argus adds that Nike is also facing rising costs and FX headwinds, cuttings its FY24 EPS view by 20c to $3.80 per share.
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