Nike price target lowered to $136 from $145 at Goldman Sachs

Goldman Sachs lowered the firm’s price target on Nike to $136 from $145 and keeps a Buy rating on the shares. The company last night reported a margin-driven fiscal Q1 earnings beat and reiterated fiscal year guidance, the analyst tells investors in a research note. The firm says against a backdrop of negative investor sentiment, the print “”was better-than-feared.” Looking ahead, Nike’s commentary on innovation was strong, with management calling out plans for accelerating innovation into the Paris Olympics and evolution of the Air Max platform across both performance and lifestyle, says Goldman.