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Fly News Breaks for September 19, 2017
Sep 19, 2017 | 07:55 EDT
As previously reported, Susquehanna analyst Sam Poser downgraded Nike to Neutral from Positive, stating that his checks indicate that the North American and European businesses are decelerating as some key categories, especially basketball, have underperformed, resulting in excess inventory that will pressure sales and margins. Poser also believes Nike will provide a new five-year growth plan and push out its $50B revenue target beyond 2020, he tells investors. The analyst cut his price target on Nike shares to $54 from $64. The Dow member's stock closed at $53.50 yesterday and is sliding another 1.5% in pre-market trading this morning.
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