RBC Capital keeps an Outperform rating and $78 price target on Nike (NKE) ahead of its Q3 results. The company’s China recovery is an important sentiment driver for the equity story, which plays out over the next one to two years, the analyst tells investors in a research note. There’s no reason Nike cannot return to growth, using Adidas’ (ADDYY) strong current execution as a comparator, the firm added.
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