Nike Analysts Sour On Retailer's Short-Term Prospects Following Poor Outlook: 'No Quick Rebound'
Portfolio Pulse from Hayden Buckfire
Nike Inc (NYSE:NKE) shares dropped significantly following a poor fourth-quarter report and lowered guidance. Multiple analysts have downgraded the stock or lowered their price targets, citing concerns over revenue growth, competition, and macroeconomic challenges. Despite some analysts maintaining a positive long-term outlook, the short-term prospects appear bleak.
June 28, 2024 | 5:30 pm
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Nike's shares fell sharply after a disappointing Q4 report and lowered guidance. Analysts have downgraded the stock and reduced price targets, citing revenue growth concerns, competition, and macroeconomic challenges. The short-term outlook is negative.
Nike's poor Q4 performance and lowered guidance have led to significant analyst downgrades and reduced price targets. Concerns over revenue growth, competition, and macroeconomic challenges contribute to a negative short-term outlook.
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