Nike price target raised to $84 from $80 at Barclays

Barclays analyst Adrienne Yih raised the firm’s price target on Nike to $84 from $80 and keeps an Equal Weight rating on the shares. The firm expects “meaningful pressure” in Nike’s fiscal Q1 due to “franchise lifecycle management” and China deceleration, but says expectations appear “sufficiently de-risked.” Data checks indicate the company’s North America sales may deliver upside, offset by a weakening macro backdrop in China, the analyst tells investors in a research note. In the near-term, Barclays believes Nike’s fiscal 2025 guidance is achievable.