Needham lowered the firm’s price target on Nike (NKE) to $75 from $80 and keeps a Buy rating on the shares. The company’s Q4 guidance was worse than expected – revenues are planned down “at the worse end of down mid-teens” with gross margin down 400-500bps, the analyst tells investors in a research note. Nike headwinds are expected to ease in FY26, but the first half of FY26 should remain highly pressured, Needham adds.
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