Nike price target lowered to $141 from $142 at TD Cowen

TD Cowen analyst John Kernan lowered the firm’s price target on Nike to $141 from $142 and keeps an Outperform rating on the shares. The firm likes the stock long into earnings with what seems to be a divided view on how the company will issue initial FY24 guidance. Gross margin is the biggest swing factor, along with ability to express confidence in long-term high-teens EBIT margin driven by a shift to DTC.