Nike price target lowered to $70 from $79 at Barclays

Barclays lowered the firm’s price target on Nike (NKE) to $70 from $79 and keeps an Equal Weight rating on the shares. Nike reported a fiscal Q2 beat across all metrics but the strategy to turn the business, while the the right one, brings a “reset year,” a margin rebase year, followed by a profitable sales regrowth year, the analyst tells investors in a research note.