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Piper Sandler cuts Nike price target to $38
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According to a report from Chinese financial media outlet Cailianshe on September 28, investment firm Piper Sandler has lowered its price target for Nike Inc. to $38 from the previous target of $45. The downgrade reflects a bearish adjustment in the brokerage's valuation of the sportswear giant. No specific reasons for the target cut were provided in the brief dispatch. The report is attributed to Piper Sandler's analyst team and was published via Cailianshe's news feed. The new target price implies a significant reduction in expected share value for Nike, which is a major player in the global athletic footwear and apparel market. Investors and market watchers will likely look for further details on the rationale behind the downgrade, which may relate to company fundamentals, industry trends, or broader economic conditions.
Source
财联社Eastern
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Multiple investment banks cut Nike price targets, signaling bearish outlook