Nike price target lowered to $135 from $143 at Stifel

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.