Analysts Just Decreased Price Targets of These 5 Stocks

1. NIKE, Inc. (NYSE:NKE)

Number of Hedge Fund Holders: 67

NIKE, Inc. (NYSE:NKE) received a price-target cut from Deutsche Bank on Thursday, June 23, 2022. The research firm lowered its price target for the footwear and apparel retailer from $175 per share to $152 per share.

Deutsche Bank analyst Gabriella Carbone thinks NIKE, Inc. (NYSE:NKE) will miss profit expectations for its fiscal fourth quarter due to weak results in China. Carbone expects NIKE, Inc. (NYSE:NKE) to generate revenue of $1.74 billion from China, below analysts’ average estimate of $1.82 billion.

NIKE, Inc. (NYSE:NKE) is set to report its financial results for its fiscal fourth quarter on Monday, June 27, 2022. NIKE stock has struggled to gain value so far this year. The company’s share price has plummeted about 31 percent on a year-to-date basis.

Earlier this year, investment management firm ClearBridge Investments talked about NIKE, Inc. (NYSE:NKE) in its fourth-quarter 2021 investor letter. Here’s what the fund said:

“Nike is another play on e-commerce as well as the anticipated growth in consumer spending as we learn to live with COVID-19. After selling out of the stock in 2016 due to competitive concerns, we were motivated to repurchase shares because of optimism around a new management team’s focus on accelerating Nike’s shift toward e-commerce and direct-to-consumer (DTC) distribution. Near-term supply chain issues in Vietnam and retail weakness in China that we see as ephemeral provided a good buying opportunity. We do not believe the market is giving proper credit to Nike’s potential to deliver attractive, high-single-digit revenue growth while delivering operating margin expansion as more merchandise is sold direct. Nike is also still underindexed to the women’s category, which we see as a significant ongoing catalyst.”

You can also take a peek at 10 Blue Chip Stocks To Buy According To Billionaire Ken Fisher and 10 Favorite Stocks of Dan Loeb’s Third Point.

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