Wall Street Analysts Weigh In on Nike, Ulta, Copart, and More

Nike (NKE) stock has been struggling, falling over 1% this week and on track for its fourth week of losses. The athleticwear giant is trading at twelve-year lows due to weak sales, promotional pressure, and uncertainty surrounding its turnaround.

Baird downgraded Nike to 'Neutral' from 'Outperform', reducing its price target to $44 from $70. The firm cited less favorable conditions across the active-lifestyle market heading into the fourth quarter.

UBS also trimmed its price target to $42 from $48, maintaining a 'Neutral' rating. According to UBS' checks with retailers and other sales channels, Nike's worldwide growth trajectory has weakened over the past three months, potentially leading to missed earnings estimates by $0.05 per share.