Citigroup Slashes NIKE Price Target by 17% Amid Pessimistic Forecast

Citigroup's recent research note has cast a shadow on NIKE (NYSE:NKE) stock, lowering its price target from $39.00 to $32.00 and maintaining a 'neutral' rating.

This move indicates a potential downside of 4.67% from the stock's previous close of $33.57, with 103,171,494 shares exchanged on Friday.

The firm is not alone in its pessimistic forecast; other analysts have also reduced their target prices for NIKE stock.

Goldman Sachs Group restated a 'neutral' rating and issued a $30.00 price target (down from $38.00), while Robert W. Baird reduced its target price on shares of NIKE from $44.00 to $36.00 and set a 'neutral' rating.