UBS downgrades its recommendation on Nike from 'buy' to 'neutral', with a price target reduced from $125 to $78, a target 6% below the share's last closing price, following last week's quarterly results and target reduction.

The broker says it has significantly revised its EPS assumptions and that its new price target represents 22 times its estimated EPS of $3.55 for fiscal 2027. We see a balanced upward and downward bias from here", he continues.

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