Form 8-K NIKE INC For: Mar 22
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Canaccord Genuity Cuts PT on Nike (NKE) to $57; Reliance on Futures Orders Quickly Waning
March 23, 2016 8:52 AM EDTCanaccord Genuity trims its price target on Hold-rated Nike (NYSE: NKE) from $66 to $57 following Q3 results issued Tuesday night.
Analyst Camilio Lyon commented, Given the revenue miss coupled with futures orders (+12%, in line with our ests) that are becoming less of a predictor of reported sales, we believe the stock will be subject to multiple compression. Moreover, inventory... More
