TD Cowen Downgrades Nike to Market Perform, Lowers Price Target to $104
Portfolio Pulse from Benzinga Newsdesk
TD Cowen analyst John Kernan downgraded Nike (NYSE:NKE) from Outperform to Market Perform and reduced the price target from $129 to $104, indicating a more cautious view on the stock's near-term performance.
December 22, 2023 | 10:35 am
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Nike's downgrade by TD Cowen from Outperform to Market Perform and a lower price target suggests a tempered outlook for the stock's short-term growth.
Downgrades by analysts can lead to a negative perception among investors, potentially causing a decrease in stock price. The reduction in price target further implies that the stock may not have as much upside as previously thought, which could lead to short-term selling pressure.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100