Nike (NKE) Shares Tumble 9% on Weak Guidance, But Bernstein Maintains $45 Target

Nike’s Weak First Quarter Report Ripples Across Footwear Sector

The shares of most shoe brands and retailers fell during Friday morning's trading session after Nike's lackluster first quarter report on Thursday.

Nike (NKE) Shares Tumble 9% on Weak Guidance, But Bernstein Maintains $45 Target

Nike (NKE) stock plunged 9% after missing Q1 revenue estimates. Bernstein maintains Outperform rating with $45 target, seeing buying opportunity ahead.

Is Nike (NKE) Stock a Buy After the Post-Earnings Dip? Bernstein Says Yes

TLDR Nike shares fell about 9% after fiscal Q1 results missed revenue estimates. Earnings beat expectations at 48 cents per share, above the 44 cents forecast. Revenue came in at $11.21 billion, down 5% on a currency-neutral basis. Bernstein kept an “Outperform” rating and a $45 price target after...