Goldman Sachs Downgrades Nike (NKE) to Neutral, Sees Headwinds for Several Quarters
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Price: $40.73 -1.21%
Rating Summary:
26 Buy, 28 Hold, 3 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
26 Buy, 28 Hold, 3 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Goldman Sachs downgraded Nike (NYSE: NKE) from Buy to Neutral following a Q3 miss after the close with sales and gross margin falling short.
Goldman said drivers, like cost pressures and cancellation rates, while mainly transitory, will likely remain surprisingly large headwinds for several quarters and weigh on gross profit growth and the share price.
Goldman said they still view Nike as an attractive long-term investment.
For more ratings news on Nike click here and for the rating history of Nike click here.
Shares of Nike are down 8 percent to $78.61 in early trading.
Goldman said drivers, like cost pressures and cancellation rates, while mainly transitory, will likely remain surprisingly large headwinds for several quarters and weigh on gross profit growth and the share price.
Goldman said they still view Nike as an attractive long-term investment.
For more ratings news on Nike click here and for the rating history of Nike click here.
Shares of Nike are down 8 percent to $78.61 in early trading.
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