Nike Pulls Back on Bank of America Downgrade and $30 Price Objective; Dick's Ticks Up, On Holding Holds Flat
Analysts said Nike’s turnaround is now a full fiscal year behind, with weaker sales, China demand and inventory pressure weighing on earnings.
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6 Articles
Nike Pulls Back on Bank of America Downgrade and $30 Price Objective; Dick's Ticks Up, On Holding Holds Flat
Bank of America just told investors that Nike's comeback is running a full year behind schedule, and the market is punishing the stock while its rivals barely flinch. Whether the selloff stays contained to one brand or spreads across athletic names is the question every investor in this space needs to answer now.
Nike drops 2 percent after Bank of America downgrades its recommendation. Akamai rises sharply after new deal with Anthropic.
US stock markets start Friday with relatively cheerful faces. At the company level, shoe manufacturer Nike is losing ground after a decline in sales.
Nike (NKE) Stock: What BofA’s Downgrade Means for Investors
TLDR Nike shares dropped more than 2% in premarket trading Friday after Bank of America downgraded the stock to Underperform from Neutral. BofA cut its price target to $30 from $47, implying about 17% downside from Nike’s last close. Analysts lowered fiscal 2027 and 2028 EPS estimates by 11% and...
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