Nike price target lowered to $56 from $65 at Stifel

Stifel lowered the firm’s price target on Nike (NKE) to $56 from $65 and keeps a Hold rating on the shares. The fiscal Q3 report makes the firm “incrementally cautious” on the timing and magnitude of Nike’s turnaround, the analyst tells investors. While Q4 revenue and EPS guidance “appear beatable,” investor aspirations for a mid-single digit percent year-over-year top-line algorithm “appear to be pushed to FY28,” the analyst added.