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Wells Fargo Downgrades Nike to Equal Weight: GLP-1 Mega-Trend Threatens the Athletic Wear Giant
24/7 Wall St.99d agobearish
Wells Fargo Downgrades Nike to Equal Weight: GLP-1 Mega-Trend Threatens the Athletic Wear Giant

Wells Fargo just delivered a contrarian gut check to Nike (NYSE:NKE) stock bulls, downgrading the athletic wear giant to Equal Weight from Overweight and trimming its price target to $45 from $55. The call lands with Nike stock already under pressure, down roughly 30% year to date (YTD) and off 25% over the past year. ... Wells Fargo Downgrades Nike to Equal Weight: GLP-1 Mega-Trend Threatens the Athletic Wear Giant