Nike Stock Falls as Analysts Cut Targets on Weak Outlook
Nike (NKE) shares dropped in premarket trading after several Wall Street firms reduced their price targets following the company's fiscal Q1 results. Despite an earnings beat, a weaker-than-expected outlook and comments from CEO Elliot Hill, who highlighted a "cost-cutting" story, have led to increased scrutiny.
Nike Inc. (NKE) is drawing renewed analyst attention after multiple Wall Street firms lowered their price targets following its fiscal Q1 results, according to The Fly. The athleticwear company’s earnings beat did not offset a weaker-than-expected outlook, and CEO Elliot Hill said the turna…