Nike Price Objective Lowered by Royal Bank Of Canada

Nike's price objective has been lowered by Royal Bank of Canada from $45.00 to $40.00 in a recent research report.

This move would indicate a potential upside of 9.90% from Nike's previous close, which was $36.40 on Tuesday.

The brokerage presently has a 'sector perform' rating on the footwear maker's stock, and several other equities research analysts have also weighed in on NKE with varying price targets.

Stifel Nicolaus set a $40.00 target price on NIKE and gave the stock a 'hold' rating, while BNP Paribas Exane reissued an 'underperform' rating on shares of Nike.