Stifel lowered the firm’s price target on Nike (NKE) to $135 from $143 and keeps a Buy rating on the shares. Nike’s under-performance since the company reported its fiscal Q4 results on June 29 is concentrated in the past week following earning revisions from Dick’s (DKS) and Foot Locker (FL), noted the analyst. However, the firm views negative revisions from these key U.S. channel partner retailers as company-specific and remains comfortable with Nike North America estimates that it says “already presumed wholesale declines against difficult compares,” the analyst tells investors.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% 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>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on NKE:
- Foot Locker price target lowered to $21 from $30 at Morgan Stanley
- Foot Locker seeing ‘stronger’ results in Nike, Jordan basketball business
- Sneaker makers slide after Foot Locker cuts outlook
- Nike Stock (NYSE:NKE) Is Trending Lower; Is Now the Time to Buy?
- On Holding Stock (NYSE:ONON): Time to Buy the Dip?