Yahoo Finance

Telsey Advisory lowered the firm’s price target on Nike (NKE) to $70 from $80 and keeps a Market Perform rating on the shares. The firm believes Nike is still several quarters away from reaching stabilization in the business, but the company is making “the right moves” to clean up its inventory, the analyst tells investors. The company, however, continues to face several structural profit headwinds, causing a lack of visibility into the company’s financial algorithm over the next few years, the firm adds.

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