JPMorgan lowered the firm’s price target on Nike to $136 from $142 and keeps an Overweight rating on the shares ahead of the fiscal Q1 report. The firm says its recent fieldwork points to sequential improvement in July and August versus June with demand exceeding supply notably at key wholesale accounts. However, it reduced Q1 China estimates to reflect recent on the ground fieldwork citing macro-driven below-plan sell-through trends industry-wide, notably at wholesale.
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