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Fly News Breaks for June 29, 2016
NKE
Jun 29, 2016 | 06:54 EDT
Citi analyst Kate McShane says shares of Nike are nearing her bear case scenario of $46 with the stock down 4% post-earnings on top of the 15% year-to-date pullback. Despite global uncertainty and the slight futures miss in Q4, the company maintained its FY17 and long-term guidance, McShane tells investors in a post-earnings research note. She cut her price target for the shares to $61 from $75 and keeps a Buy rating on Nike.
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