Stocks
Nike Shares Plummet to New Low After Analyst Downgrade
Nike Inc. (NYSE:NKE) reached a new 52-week low after Royal Bank Of Canada lowered its price target on the stock from $45.00 to $40.00.
The company traded as low as $35.16 and last traded at $35.2840, with a volume of 25,289,716 shares trading hands.
This news comes after several analysts have lowered their price targets for the stock, citing weak China demand, retailer order pullbacks, heavy competition, and a promotional selling environment.