JP Morgan slashed its target on NKE to $33 from $40 today. Analyst Matthew Boss kept a Sell rating. The consensus target has also fallen, dropping to $41.43 from $45.63 across the broader analyst community.
Nike's short interest stands at 8.4% of free float. That is not extreme, but the bearish analyst tone adds weight to existing pressure on the stock.
The more dramatic call came from Jefferies. Analyst Paul Zimbardo downgraded EIX to Sell from Hold, cutting the target to $42 from $53. That is a 21% target reduction in a single move. Edison International carries a $20.7 billion market cap, making this a significant call on a large utility.
JP Morgan also trimmed its target on BAC to $62 from $68, while keeping a Buy rating. The bank remains one of Wall Street's most covered stocks, with 21 Buy recommendations. The target cut is modest but notable given rising euro-area inflation. HICP in the euro area hit 3.8% in September, a third straight monthly increase, adding pressure to rate-sensitive financials.
On the brighter side, JP Morgan raised its target on DVN to $65 from $60. Devon Energy holds 26 Buy ratings from analysts. Energy remains a pocket of optimism on Wall Street today.
ORTEX Market Intelligence content is generated by AI from a snapshot of ORTEX's proprietary data. Content is informational only and does not constitute investment advice.
