Piper Sandler Cuts Nike to Neutral with Lower Price Target
Piper Sandler has downgraded its stance on Nike (NKE), cutting it to a 'Neutral' rating and lowering the price target from $45 to $38. The firm cited expectations of ongoing promotional activity and weaker demand for athletic footwear as factors that could delay Nike's recovery. The new price target implies a 6.3% upside potential based on the stock’s last closing price, but it reflects reduced optimism about near-term performance due to softer consumer demand in key product categories.
Tickers: $NKE