- Bank of America Merrill Lynch issues a weak outlook on Nike (NKE -0.2%) ahead of the back-to-school season.
- The myriad of concerns that are part of BAML's negative view (Underperform, $42 price target) on Nike include the high inventory levels, market share loss to Adidas and weak sell-through rates in some key premium categories.
- The investment firm's position on Nike makes it an outlier - with 22 Buys, 14 Holds and one lonely Sell rating on the books from Wall Street firms.
- Source: Bloomberg
- Shares of Nike are up 1.81% YTD vs. +7.03% for the S&P 500 Index.