Nike third-quarter earnings surpassed expectations, with an EPS of $0.77 compared to an estimated $0.74. Revenue for the quarter stood at $12.43 billion, slightly exceeding the estimated $12.31 billion. Inventory levels were lower than expected at $7.73 billion, compared to an estimate of $8.16 billion.
Brokerages on Nike
RBC Capital downgraded Nike from Outperform to Sector Perform and lowered the price target from $110 to $100.
Wells Fargo maintained an Overweight rating but reduced the price target for Nike from $125 to $120.
BofA Securities shifted their stance to Neutral and lowered the price target from $120 to $110.
UBS reiterated a Buy rating but decreased the price target from $138 to $125.
Truist Securities adjusted their rating to Hold and reduced the price target from $111 to $99.
Barclays lowered their price target for Nike from $142 to $114.
Jefferies revised their rating to Hold and lowered the price target from $110 to $100.
Piper Sandler changed their stance to Neutral and decreased the price target from $107 to $98.
Stifel maintained a Buy rating but lowered the price target from $129 to $117.
Evercore ISI adjusted their price target for Nike from $127 to $117.
Telsey reiterated an Outperform rating but reduced the price target from $120 to $115.
Bernstein maintained an Outperform rating but lowered the price target from $134 to $120.
Goldman Sachs reiterated a Buy rating but reduced the price target from $135 to $120.
TD Cowen lowered the price target for Nike from $104 to $91.
Piper Sandler reduced their price target for Nike from $107 to $98.
The highest price target for Nike is now $125, down $13 from the previous target of $138, while the lowest price target is now $91, down $13 from the previous target of $104.
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