Nike (NKE) will report its earnings for the fiscal first quarter of 2023 on Thursday after the market closes. For those still holding on to Nike stock, the results will show where the sports apparel giant stands after having lost 45% of its market value since November 2021.
On Monday, analysts at Telsey Advisory Group lowered their 12-month price target on Nike from $130 to $125. The stock closed at $98.70 Wednesday. The firm projects earnings of 93 cents per share versus the FactSet consensus of 92 cents.
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