Nike, Foot Locker, And Urban Outfitters Tread Carefully As Analyst Predict Sales Headwinds
Portfolio Pulse from Priya Nigam
Analyst Corey Tarlowe has downgraded the ratings for Urban Outfitters, Foot Locker, and Nike to a Hold, predicting sales headwinds due to potential curtailment of consumer spending in the U.S., particularly in apparel & footwear. Tarlowe also reduced the price targets for all three companies, citing various reasons such as top-line headwinds, slower than anticipated business turnaround, and macro headwinds in China.
September 25, 2023 | 3:53 pm
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
Foot Locker's rating has been downgraded to Hold and its price target slashed from $28 to $18 due to slower than anticipated business turnaround.
The downgrade and reduced price target suggest a negative outlook for Foot Locker, which could result in a decrease in its stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Nike's rating has been downgraded to Hold and its price target lowered from $140 to $100 due to potential macro headwinds in China and pressure on its wholesale channel.
The downgrade and reduced price target suggest a negative outlook for Nike, which could lead to a decrease in its stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Urban Outfitters' rating has been downgraded to Hold and its price target reduced from $42 to $31 due to predicted top-line headwinds that could persist through F'25.
The downgrade and reduced price target indicate a negative outlook for Urban Outfitters, which could lead to a decrease in its stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100