Nike Confronts Market And Product Transition Risks, Analyst Warns
Portfolio Pulse from Anusuya Lahiri
RBC Capital and Deutsche Bank analysts have lowered their price targets for Nike Inc (NYSE:NKE) due to market and product transition risks. RBC Capital's Piral Dadhania maintained a Sector Perform rating but reduced the price target from $100 to $75, citing a multi-quarter product transition and earnings dilution risks. Deutsche Bank's Krisztina Katai maintained a Buy rating but lowered the price target from $115 to $92. Despite these adjustments, Nike has an average 1-year price target of $99.33, indicating a potential upside of 32.02%.
July 03, 2024 | 5:53 pm
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RBC Capital and Deutsche Bank have lowered their price targets for Nike due to market and product transition risks. RBC Capital's new price target is $75, while Deutsche Bank's is $92. Despite these adjustments, Nike's average 1-year price target is $99.33, indicating a potential upside of 32.02%.
The lowered price targets from both RBC Capital and Deutsche Bank indicate a cautious outlook on Nike's short-term performance due to market and product transition risks. This is likely to put downward pressure on the stock price in the short term. However, the average 1-year price target still suggests a significant upside, indicating mixed sentiment among analysts.
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IMPORTANCE 80
RELEVANCE 100