Nike (NKE) PT Lowered to $127 at Cowen

June 28, 2022 9:13 AM EDT
Get Alerts NKE Hot Sheet
Price: $117.04 --0%

Rating Summary:
    36 Buy, 16 Hold, 2 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 8 | Down: 23 | New: 34
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Cowen analyst John Kernan lowered the price target on Nike (NYSE: NKE) to $127.00 (from $133.00) while maintaining an Outperform rating.

The analyst commented, "Revenue guidance ex FX of +low double-digit y/y is fairly in line with consensus with China and supply chain flows likely swing factors that could produce upside. Although guidance could prove conservative if China recovers on easy compares and re-opening, we remain below Consensus beyond FY23. Stock likely has little downside but upside in the stock will be held back until we can model beyond Q1 earnings – consensus EPS estimates into FY24 are over 10% too high."

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