JP Morgan Maintains Overweight on Nike, Lowers Price Target to $128
Portfolio Pulse from Benzinga Newsdesk
JP Morgan analyst Matthew Korn has maintained an Overweight rating on Nike (NYSE:NKE) but has reduced the price target from $139 to $128.
December 22, 2023 | 3:08 pm
News sentiment analysis
Sort by:
Ascending
NEUTRAL IMPACT
JP Morgan has maintained an Overweight rating on Nike but lowered the price target from $139 to $128, indicating a positive outlook but with reduced expectations.
While the Overweight rating suggests that JP Morgan analysts believe Nike will outperform the market or its sector, the reduction in the price target could imply a tempering of expectations regarding Nike's future price performance. This might lead to a neutral short-term impact on the stock as investors digest both the continued positive outlook and the lowered price target.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100