JD Sports Fashion downgraded to Equal Weight from Overweight at Barclays

Barclays analyst Richard Taylor downgraded JD Sports Fashion (JDSPY) to Equal Weight from Overweight with a price target of 140 GBp, down from 165 GBp. The analyst rebuilding a track record would have been preferable before spending on another acquisition, especially given concerns over Nike’s innovation. The Hibbett (HIBB) deal looks accretive “but accentuates brand innovation and execution risks,” the analyst tells investors in a research note.