Cowen drops price target for Nike by 25%, expects war will hurt sales in Europe

Published Tue, Mar 8 20226:38 AM ESTUpdated Tue, Mar 8 20227:07 AM EST

A person walks past a Nike store in Kyiv, Ukraine, on Dec. 10, 2020.

Valentyn Ogirenko | Reuters

The rise in commodities prices from the Russia-Ukraine conflict will hurt sales for Nike and the broader sports and apparel sector, according to Cowen.