Telsey Advisory Group analyst Cristina Fernández has lowered the price target on Nike Inc (NYSE: NKE) to $140 (32% upside) from $170 and kept Outperform rating on the shares.
The analyst cited near-term risks, including the impact of strict COVID lockdowns in China, demand decline in wholesale channel, given lowered expectations for 2H22 by key partners like Dick’s Sporting Goods Inc (NYSE: DKS) as the factors that will influence its Q4 earnings.
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