Truist keeps a Hold rating and $111 price target on Nike (NKE) ahead of its Q3 results this week as part of a broader research note previewing earnings for Softlines. The firm maintains its view that the company is facing some share loss, especially to rapidly growing competitors like Deckers’ (DECK) HOKA and On Holding (ONON) in the U.S. and abroad in footwear, the analyst tells investors in a research note. Nike shares will remain rangebound until there is a clearer line of sight into a stronger and more consistent top line growth, the firm added.
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