RBC Capital analyst Piral Dadhania lowered the firm’s price target on Nike (NKE) to $65 from $66 and keeps a Sector Perform rating on the shares. The company is in the “heavy lifting” stage of inventory clean-up while it is preparing for strong Autumn/Winter 2025 Running launch, the analyst tells investors in a research note. Nike’s recent leadership team shake-up demonstrates progress in establishing the executive governance framework, but risk/reward heading into FY25E results appears unfavorable, RBC adds.
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