NIKE, Inc. (NYSE:NKE) is included among the Dividend Stock Portfolio: Top 10 Stocks to Buy According to Reddit.
UBS Trims Nike (NKE) Forecast, Cites Concerns over Upcoming Guidance
On June 10, UBS lowered its price recommendation on NIKE, Inc. (NYSE:NKE) to $50 from $54. It reiterated a Neutral rating on the stock. Analyst Jay Sole said he sees a “slightly negative upside/downside skew” heading into Nike’s fourth-quarter earnings report. He believes the company’s price-to-earnings multiple could be affected by a potentially weak first-quarter outlook. At the same time, he noted in the firm’s preview that “this is not a high conviction view.”
Also on June 10, Citi reduced its price goal on Nike to $47 from $53. It kept a Neutral rating on the shares. Citi expects Nike to post a modest earnings beat for fiscal fourth-quarter results scheduled for June 30. The analyst added in a research note that the company’s trends in China are expected to remain “sluggish” for the foreseeable future.
NIKE, Inc. (NYSE:NKE) designs, markets, and distributes athletic footwear, apparel, equipment, accessories, and services for sports and fitness activities.
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