Nike Stock Downgraded to Hold by Williams Trading on Production Concerns
Williams Trading analysts downgraded Nike (NKE) stock to a hold, citing persistent production output problems that are "bigger than previously believed." The analysts also noted that Nike's full-year guidance fell below consensus estimates.
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04:01:15 PM UTC
SquawkNews
Nike's stock may still not have hit its bottom, as questions about its future performance linger, UBS analysts say. The analysts Nike's sales guidance reflects weak demand in a marketplace with excess inventory, where pulling back on promotions could hurt revenue. Nike's reset in its sportswear and…