Steer clear of Nike heading into the company's earnings release next week, Barclays advised. Analyst Adrienne Yih downgraded shares to equal weight from overweight, saying the sports apparel retailer could report "potential low-quality" earnings results next week as it continues to deal with inventory issues. Shares of Nike are down 36% this year, and roughly 40% off its 52-week high, as the sports apparel giant dealt with rising inflation, supply chain issues and Covid lockdowns in China. The analyst lowered her price target to $110, a 12% cut from $125 previously. The new price target is roughly in line with Monday's closing price of $107.21.

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