Nike price target lowered to $58 from $62 at UBS

UBS analyst Jay Sole lowered the firm’s price target on Nike (NKE) to $58 from $62 and keeps a Neutral rating on the shares. Channel checks indicate soft global sales momentum through March, leading to expectations for roughly in-line Q3 EPS and a below-consensus implied Q4 EPS outlook of 3c-18c versus the Street at 23c, with Q4 sales likely down low-single digits ex-FX and no initial FY27 guidance, the analyst tells investors in a research note.