Nike (NKE) Stock Downgraded with Price Target Reduced to $50

RBC Capital Markets downgraded Nike's (NKE) 12-month price target from $70 to $50. This reduction comes just one day before the start of the World Cup, which may impact Nike's potential sales. The lowered target reflects significant concerns regarding the company's future performance in a competitive market. Investors will be closely watching how this adjustment affects market sentiment and Nike's stock performance in the near term.