Wells Fargo analyst Ike Boruchow lowered the firm’s price target on Nike (NKE) to $92 from $95 and keeps an Overweight rating on the shares as the firm is cutting numbers below Street. Wells believes Nike remains challenged through Q2. Direct-to-consumer reads are weak, FX headwinds have grown, and supplier checks suggest that current “Franchise Management” efforts will be extended into 2025.
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