Nike price target lowered to $115 from $120 at Telsey Advisory

Telsey Advisory lowered the firm’s price target on Nike to $115 from $120 and keeps an Outperform rating on the shares. Nike is adapting its strategy to focus on four areas: accelerating product newness and innovation; sharpening focus on sports; reducing inventory; and improving brand presence, the analyst tells investors. These may seem to be the right steps, but the transition will negatively impact sales and profitability in the first half of 2025, the firm adds. Overall, the projected revenue decline in the first half of the year was a surprise, but the slowdown will be temporary and the firm expects consumers to respond to the increased newness from Nike.