(News Bulletin 247) – Jefferies maintains its Buy recommendation but reduces its price target to $115 (vs. $130) on Nike shares.
While Q1 revenue beat expectations, supply chain, currency and promotions headwinds ‘weighed on company’s Q1 performance’, analyst says .
‘While NIKE remains attractive over the long term, we are lowering our benchmark price to $115 due to domestic market volatility,’ Jefferies continues before advancing, ‘the company’s focus on digital should lead to future stock gains.
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