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Nike stock hit a 10-year low after BofA's Sell downgrade and $30 target, as China sales fall and adidas gains ground on Elliott Hill's turnaround.
Nike is facing challenges that are very risky as it attempts to turn around its struggling business, making its stock a sell, according to Bank of America.
Bank of America downgraded Nike to Underperform from Neutral and cut its price target to $30 from $47, citing a longer-than-expected sales recovery…