Barclays analyst Adrienne Yih lowered the firm’s price target on Nike (NKE) to $79 from $81 and keeps an Equal Weight rating on the shares ahead of the fiscal Q2 report. The firm forecasts a top- and bottom-line miss due to “franchise life cycle management,” North America weakness, and an uncertain China market. Inventory levels remain elevated as Nike brand promotions intensify, the analyst tells investors in a research note.
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