RBC Capital analyst Piral Dadhania raised the firm’s price target on Nike to $120 from $115 and keeps an Outperform rating on the shares. Investor skepticism remains fairly elevated for sporting goods and Nike ahead of Q2 earnings on December 20th, but if the company can deliver low double-digit revenue growth with no change to FY23E guidance and no major surprises for China then sentiment on the stock could further improve, the analyst tells investors in a research note. Dadhania adds that Nike’s key risks include delayed inventory liquidation in N America, China deterioration and slowing revenue growth.
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