Nike price target lowered to $73 from $80 at UBS

UBS lowered the firm’s price target on Nike (NKE) to $73 from $80 and keeps a Neutral rating on the shares. The firm still sees significant downside risk stemming from the chance Nike has more bad news to deliver over the coming quarters, the analyst tells investors in a research note. However, UBS still believes in Nike’s ability to rebound over the long-term.