Opportunities this week:

Nike’s recent growth struggles followed an ill-advised strategy to increase focus on its direct-to-consumer (DTC) channel at the expense of its wholesale business. Given the difficult path that lies ahead for management, we are not convinced that shareholders can earn consistent, attractive returns, thus, we are dropping coverage of the stock.
Following the recent news that a number of bidders have submitted offers to acquire Dalata, we believe it is appropriate to update our price target to reflect the higher likelihood of a sale process going through. The result is an upward revision to our price target to €6.93, up from €6 previously, providing 20% upside for investors. We maintain an overweight rating.
Ahead of the ECB’s meeting on Thursday, when it is priced in with almost certainty that it will decide to cut rates by another 25bps, we believe it an opportune time to highlight IRES REIT as a buying opportunity. Our price target of €1.26 provides 16% upside, supporting our Overweight rating.