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BOA downgrades Nike, says firm has lost ground in innovation
Published Tue, Nov 1, 2016 · 09:50 PM
New York
NIKE Inc shares fell to their lowest price in more than a year after Bank of America Corp (BOA) downgraded the company, saying it's lost ground in a critical area: innovation.
Competitors such as Adidas AG and Under Armour Inc are developing new products at a faster clip, making it harder for Nike to keep them at bay, according to analyst Robert Ohmes. He cut his Nike rating to the e…
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