- Stifel cut its Nike price target to $40 from $45 and lowered FY2027 and FY2028 adjusted EPS estimates, pointing to a more promotional Western marketplace and tougher gross-margin comparisons.
- Barclays cut its target to $48 from $52 but kept an Overweight rating, framing the turnaround as margin-first rather than sales-led with an uneven path to renewed revenue.
- UBS Securities and Telsey Advisory Services also lowered targets, with the Street expecting Nike to cut guidance on the October 1 print; a new CFO and a November investor day add risk of further estimate revisions.
- Running grew mid-single digits and the World Cup adds roughly $300 million to Q1 revenue, but sportswear and Jordan streetwear stay negative through fiscal 2027, Greater China revenue fell 17% in Q4, and short interest reached 75.59 million shares as of August 31.
Quotes
“more promotional Western marketplace”
“deteriorating global sales trends”
“Nike's turnaround strategy prioritizes margins over sales growth”