Nike (NKE) PT Lowered to $110 at Credit Suisse
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September 30, 2022 8:28 AM EDT
Cowen analyst John Kernan lowered the price target on Nike (NYSE: NKE) to $114.00 (from $127.00) while maintaining a Outperform rating following earnings.
The analyst commented, "Nike is showing strength from a top-line perspective, and we think China could return to growth by Q2, but... More
September 30, 2022 7:56 AM EDT
Jefferies analyst Randal Konik lowered the price target on Nike (NYSE: NKE) to $115.00 (from $130.00) while maintaining a Buy rating.
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September 30, 2022 5:53 AM EDT
Shares of Nike (NYSE: NKE) are down over 9% in pre-open Friday after the companys FQ1 results showed excess inventory will likely weigh on earnings and stock in the near term.
Nike reported an EPS of $0.93 on revenue of $12.7 billion to beat the analyst consensus of $0.92 on sales of $12.29 billion. North America revenue soared +13% to nearly fully offset a -13% deceleration in China.
Direct sales were reported at $5.1 billion. However, the fact that inventory came in at $9.66... More
