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Latest Reactions on Nike from Investors and Analysts
In this article, we will discuss the recent reactions from investors and analysts regarding Nike, the popular sports apparel retailer. Jefferies, a prominent analyst firm, has lowered its call on the stock from buy to hold. Randal Konik, the analyst behind the call, has also reduced Nike’s price target by $40 to $100.
Market Survey Findings
According to Jefferies’ recent consumer survey, there are indications of a potential slowdown in spending. This is primarily due to the resumption of federal student loan payments in October. These repayments had been paused since March 2020 as a Covid-era relief measure.
On Monday, Nike’s stock closed down by 0.3%. This decline reflects the market’s response to the revised call from Jefferies and the survey findings.
Upcoming Earnings Report
Investors and analysts are eagerly awaiting Nike’s upcoming earnings report, scheduled to be released on Thursday.