Nike price target raised to $123 from $116 at Daiwa

Daiwa analyst Kahori Tamada raised the firm’s price target on Nike to $123 from $116 and keeps a Neutral rating on the shares. The company’s margins were down in Q3 but inventory is better, the analyst tells investors in a research note. The firm anticipates a China recovery ahead but says "cautious guidance" is likely for fiscal 2024.