Nike: Jefferies cuts target price

(CercleFinance.com) - Jefferies is maintaining its Buy recommendation on the Nike stock, although has reduced its target price for it to 115 dollars (from 130 dollars).


While Q1 revenue was better than expected, supply chain, currency and promotional headwinds "weighed on the company's 1Q performance," the analyst said.

"While NKE remains attractive LT, we lower our PT to $115 on NT volatility," Jefferies adds, before arguing, "we expect that the company's continued emphasis on digital should lead to share gains ahead".

However, at a glance the stock is down a whopping 13% - a false start could be on the cards today...


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