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Nike Downgraded; Home Depot Coverage Initiated

The Fly ·

NKE Nike Inc
$34.61 +1.91%
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LMT +0.69% LOW +2.32%PTC PTC +0.38%JHX JHX +1.31%TOL TOL +1.94%
  1. 1Berenberg lowered its price target for Nike to $27.50 and downgraded its investment rating to Sell.
  2. 2Nike appears to be accepting a smaller position in the sportswear market.
  3. 3Melius Research initiated coverage on home centers, including Home Depot, with an overall positive outlook.

So what's the key point?

Berenber lowered its expectations for Nike's stock price and recommended selling. This means Nike is not performing as strongly in the sportswear market as it once did.

Source The Fly · View original ↗

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