Nike is Heading for Its Weakest Year in History - Analysts Lower Price Targets, Berenberg Downgrades to "Sell."

Nike's stock is headed for its weakest year ever: A decline of around 47% since the beginning of the year is weighing on the sportswear company. Several analysts are lowering their price targets, with Berenberg even rating it as "Sell." The reasons are persistent weakness in China and pressure on core brands. Price at Historic Low Nike's stock is on track for its weakest year as a publicly traded company, having fallen approximately 47% since the start of the year, and is currently at its lowest level in 13 years. Over a five-year period, the...