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Story summary
- Piper Sandler downgrades Nike, Inc. from Overweight to Neutral and cuts its price target from $60 to $50.
- Analysts cite saturation in athleisure and Nike's reliance on classic brands.
- Nike's stock has fallen 31.65% in six months and trades around $44, just above its 52-week low.
- Recent earnings show gross-margin decline and disappointing revenue growth.
- Analysts remain mixed, with some lowering targets while others stay cautious on strategy.
