Baird downgrades Nike (NKE) to "Neutral" from "Outperform," lowers price target to $44 from $70; Compass Point upgrades Coinbase (COIN) to "Neutral" from "Sell," raises price target to $177 from $130.
Baird stated that while it still believes Nike's multi-year transformation and long-term profitability will far exceed current levels, it is increasingly concerned about negative developments since Nike's earnings report in late June. Compass Point noted that Bitcoin has historically traded in four-year cycles, and the current cycle closely aligns with historical norms, anticipating that Bitcoin is recovering from a cyclical bottom.
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Disclaimer: This content reflects the author's personal views only and does not constitute investment advice.
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