Nike price target lowered to $125 from $140 at Baird

Baird analyst Jonathan Komp lowered the firm’s price target on Nike to $125 from $140 and keeps an Outperform rating on the shares. The firm noted Q3 results topped their estimates and noted the company is taking the right actions to evolve its distribution strategy, accelerate innovation, and prioritize brand/franchise health which are weighing on F1H25 expectations.