StoneX Reiterates Hold Rating on Nike (NKE)

StoneX analyst Zeyn Burak reiterated a Hold rating on Nike (NYSE: NKE).

The analyst commented, "We met with NKE’s new CFO Dave Denton as part of a meet & greet event with sell-side on Tuesday, October 21. Overall, the key takeaway from the meeting was that the company is adopting a more grounded and realistic posture. Nike was optimistic about turning around the business but recognizes that the recovery will take time, particularly in Jordan and China. For Jordan, the company acknowledges the need to reinvigorate innovation, deliver fresh product energy, and create a sense of scarcity. In China, elevated discounting is expected to persist longer than in other regions."

For an analyst ratings summary and ratings history on Nike click here. For more ratings news on Nike click here.

Shares of Nike closed at $37.53 yesterday.

You May Also Be Interested In

• UBS Reiterates Neutral Rating on Nike (NKE) on Expected Pace of Earnings Recovery
• BMO Capital Post Nike (NKE) Management Meet: 'More caution on the top-line outlook'
• Edwards Lifesciences faces stock risk ahead of trial results says Stifel