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Bank of America just told investors that Nike's comeback is running a full year behind schedule, and the market is punishing the stock while its rivals barely flinch. Whether the selloff stays contained to one brand or spreads across athletic names is the question every investor in this space needs to answer now.
BofA downgraded Nike to Sell on Sept 25, cutting its target to $30 and citing China weakness, stalled turnaround, and a payout ratio above 100%.