Citi lowered the firm’s price target on Nike (NKE) to $70 from $74 and keeps a Neutral rating on the shares ahead of the fiscal Q2 report on December 18. The firm expects Nike to report an earnings beat on stronger sales and lower spending. However, Citi sees the company guided Q3 sales below consensus amid challenges in direct-to-consumer and China. The stock offers a balanced risk/reward at current share levels, the analyst tells investors in a research note.
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