Nike price target lowered to $110 from $125 at BofA

BofA analyst Lorraine Hutchinson lowered the firm’s price target on Nike to $110 from $125 and keeps a Neutral rating on the shares ahead of the company’s upcoming fiscal Q1 report. The firm thinks upward estimate revisions are “unlikely” given uncertainty in China and the challenging U.S. wholesale environment, says the analyst, who rolled the firm’s target year forward and says the updated multiple reflects “increased sales uncertainty.”