RBC Capital Cuts Price Target on Nike Ahead of Q4 Earnings 
<p>RBC Capital analysts lowered <a href='https://financialmodelingprep.com/financial-summary/NKE'>Nike's (NYSE:NKE)</a> price target from $145 to $138 per share while keeping their Outperform rating, ahead of the company's Q4/23 earnings report, which is scheduled on June 29. </p>
<p>The analysts noted a mixed outlook due to factors like US market exposure, high inventories, and China's lukewarm reopening. However, they find consensus forecasts reasonable and highlight Nike's relative growth momentum, inventory clearance progress, and brand strength. </p>
<p>The analysts also mentioned Nike's fiscal 2024 guidance, gross margin recovery potential, and EPS results, hinting at $4 as the investor expectation. RBC trimmed Nike's 2024 revenues/EPS by 4% and 5%, respectively.</p>

NYSE:NKE