Introduction

Market Movers has gathered the most recent insights and opinions from investors and analysts regarding Nike, the popular sports apparel retailer. This article discusses the impact of Jefferies’ updated evaluation of the company, including a downgrade in stock rating from buy to hold. Randal Konik, the analyst responsible for this decision, has also reduced Nike’s price target by $40 to $100. Additionally, there are indications of a potential spending slowdown based on the firm’s recent consumer survey. This slowdown is expected as federal student loan payments, which were on hold since March 2020 due to the Covid-19 pandemic, resume in October. Nike’s stock closed down 0.3% on Monday, and the company is scheduled to release its earnings report on Thursday.