Jefferies downgrades Nike to hold from buy. Here's what the pros say to do next
September 25, 2023
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Market Movers rounded up the latest reactions on Nike from investors and analysts. The pros discussed the sports apparel retailer after Jefferies lowered its call on the stock from buy to hold. The analyst behind the call, Randal Konik, also lowered Nike’s price target by $40 to $100 . The firm’s recent consumer survey signaled that there will likely be a slowdown in spending as federal student loan payments ramp back up in October. These repayments had been paused since March 2020 as a Covid-era relief measure. Nike closed down 0.3% Monday. The company is set to report earnings Thursday.
