Nike Price Target Slashed by 20% Amid Retail Woes

Nike Inc., the leading global manufacturer of athletic footwear, apparel, and equipment, has seen its price target lowered by B of A Securities to $24.00 from $30.00.

The reduction reflects a cautious outlook on Nike's performance amidst a challenging retail environment, according to analyst Lorraine Hutchinson's decision to maintain an Underperform rating.

Nike's GF Value is calculated at $72.64, indicating that the stock is currently 51.6% undervalued compared to its market price of $35.15.