Wells Fargo downgraded NIKE (NKE) from Overweight to Equal Weight and set a price target of $45. The stock currently trades around $44 per share. For more on NIKE, see the NIKE dividend report.
Why the Rating Changed
Wells Fargo’s downgrade stems from a broader sector reshuffle tied to a surprising macro trend — the rapid adoption of GLP-1 weight-loss drugs — that the firm believes is reshaping where consumers spend their money.
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