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Benzinga

Business

Shivani Kumaresan

Here's Why Stifel Slashed Price Target On Nike

NIke Stifel Jim Duffy NKE Nike Inc NYSE China Covid-19 United States

Stifel analyst Jim Duffy lowered the price target on Nike Inc (NYSE:NKE) to $150 from $160, implying a 23.99% upside. Duffy kept a Buy rating on the shares.
The analyst slashed the price target, considering the business restrictions in China due to the rise in COVID-19 cases and the strengthened U.S. dollar position.
He said the investors would be looking forward to Nike’s outlook and revenue growth prospects.
Price Action: NKE shares are trading higher by 0.87% at $122.00 in premarket on the last check Monday.
Photo Via Wikimedia Commons

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