Citi lowered the firm’s price target on Nike to $125 from $135 and keeps a Buy rating on the shares. The analyst expects in-line Q3 results. The North America marketplace is cleaner on inventory, though promotions remain elevated and retailers are cautious on orders, the analyst tells investors in a research note. Citi views a sales reset as a likely “deck clearing” event that could drive near-term weakness, though it believes any weakness should be viewed as a buying opportunity.
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