JPMorgan analyst Matthew Boss lowered the firm’s price target on Nike to $80 from $83 and keeps a Neutral rating on the shares. The firm also placed the shares on “Negative Catalyst Watch” into the fiscal Q1 earnings report. The analyst reduced Nike’s Q1 earnings per share estimate to 48c, below the consensus estimate of 52c, citing headwinds across all geographies. The firm’s field work points to consumer caution and digital promotions in China and increased challenges in North America with direct-to-consumer factory stores tied to a softer low-income consumer.