Nike Cut To Market Perform On Possible Worsening Of Market Share Loss At Cowen
As reported previously, Cowen analyst John Kernan downgraded Nike (NKE) to Market Perform from Outperform citing the potential for share losses to competitors Under Armour (UA) and Adidas (ADDYY) to accelerate.
He also cites Nike's elevated inventories and higher promotion levels in North America.
The analyst sees a risk to guidance for the second half of 2017. Kernan lowered his price target to $54 from $59 on Nike shares.
Disclosure: None
How did you like this article? Let us know so we can better customize your reading experience.
Comments
Leave a comment to automatically be entered into
our contest to win a free Echo Show.
