NEW YORK (TheStreet) --Shares of Nike (NKE) - Get Report were sliding during mid-afternoon trading on Friday, after Canaccord Genuity managing director Camilo Lyon cut his price target on the stock to $52 from $56.

Lyon maintains his "hold" rating on the stock, but cited increasing competitive pressures and increased inventories in China and Western Europe as the reasons for the price cut.

Friday afternoon's "Fast Money Halftime Report" panel on CNBC discussed Nike stock in light of today's call.

Ritholtz Wealth Management CEO Josh Brown believes investors will get a better time to buy the stock if they are investing long-term and they like the company.

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"Here you have a name that was in a glorious, almost pristine uptrend going back to the end of 2011. Always found support at that rising moving average on the way up. Broke below the 200-day in April, had a failed attempt to break back above a declining 200-day earlier this summer, and it rolled over really quickly," he explained.

Brown believes that the stock can be bought at the low $50s, even high $40s, if the market holds up. If there is, however, a correction it could be worse.

"I like the name, I'll stalk it, but I don't see the urgency to come in and buy," he added.

After the most recent quarter Nike took a hit because there were some blemishes in the report. However, the next day it did close higher which was the market giving it a pass, Lebenthal Asset Management CEO Jim Lebenthal said.

"If they have blemishes on the quarter they're going to report on Tuesday they won't give them a pass again, it will go down to the low $50s, high $40s. I would love to pick it up there because the short-term issue here is you had the Olympics, the European soccer competition, all of which favored Adidas," he explained.

Separately, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author. TheStreet Ratings has this to say about the recommendation:

TheStreet Ratings team rates Nike as a Buy with a ratings score of B+. This is driven by multiple strengths, which it believes should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks it covers. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, notable return on equity and expanding profit margins. The team feels its strengths outweigh the fact that the company has had sub par growth in net income.

 You can view the full analysis from the report here: NKE

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