HSBC Downgrades NIKE, Inc. to Hold from Buy
HSBC has downgraded NIKE, Inc. (NKE) from Buy to Hold, reducing its price target from $90 to $48 due to limited visibility and ongoing challenges in key regions. The downgrade follows a report of the company's chief innovation officer resigning and weak fiscal third-quarter results, including flat reported sales and declining currency-neutral sales.
Topics: analyst downgrade earnings report executive turnover HSBC NIKE, Inc. stock rating change