HSBC downgrades Nike (NKE -3.2%) to Neutral from Overweight with a $96 PT. The firm notes...

|By:, SA News Editor

HSBC downgrades Nike (NKE -3.2%) to Neutral from Overweight with a $96 PT. The firm notes potentially weak back-to-school consumer spending and a concern if Nike has lost its competitive position in Europe and Russia against rival Adidas (ADDYY.PK) leading up to the Euro soccer championship next summer.