More than a dozen investment banks have cut price targets for Nike Inc. ($NKE), signaling deteriorating near-term earnings power. Jefferies reduced its target to $60 from $75. BofA Securities lowered its target to $24 from $30. Goldman Sachs cut to $30 from $38. Truist Securities issued one of the steepest cuts, moving to $29 from $42—a 31 percent drop.
Other significant cuts came from BTIG (to $50 from $55), Telsey (to $35 from $44), Wells Fargo ($30, down from $40), Citi ($32, down from $39), Guggenheim (to $50 from $60), and Baird (to $36 from $44).
Analysts cite softening consumer discretionary spending and inventory challenges. Nike faces pressure on pricing power and margins as promotional activity intensifies across retail. The consensus view reflects skepticism about the company's ability to sustain premium pricing in a competitive environment.
Some analysts maintain stability in their outlooks. Raymond James reiterated its Market Perform rating, suggesting current valuations already price in anticipated weakness. RBC Capital reiterated its Sector Perform rating at $40, indicating confidence the underlying business remains sound despite softened growth prospects.
