Nike price target lowered to $90 from $92 at Wells Fargo

Wells Fargo analyst Ike Boruchow lowered the firm’s price target on Nike (NKE) to $90 from $92 and keeps an Overweight rating on the shares. New CEO Hill’s strategies to turn the brand around were announced and will meaningfully weigh on results in the near-term, the analyst tells investors in a research note.