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What you need to know
- Several analysts lowered their price targets for Nike's stock Friday, concerned its turnaround could take longer than expected after the athletic apparel giant offered a sluggish outlook.
- Morgan Stanley analysts said Nike's weaker-than-expected forecast for the current quarter suggested its trajectory could "get worse before it can get better," with fiscal 2026 likely to be a "reset year."
- Nike shares lost almost 30% since January.
A number of analysts cut their price target for Nike stock (NKE) Friday. They were concerned that the turnaround might take longer than anticipated after Nike offered a weak outlook.
Elliott Hill, the new Nike CEO, announced several initiatives in Thursday’s earnings report to help return Nike to growth. These included reducing promotional activities, clearing out old stock, and investing in new products. However, Hill warned that these measures could be slow and affect results immediately.
Morgan Stanley analysts said Nike's weaker-than-expected outlook for the current quarter suggested its trajectory could "get worse before it can get better," with fiscal 2026 likely to be a "reset year." They trimmed their price target for Nike's stock to $74 from $80, implying a decline from Friday's closing price of $76.94.
Bank of America analysts have also reduced their target price for Friday to $90, from $95, due to concerns over the forecast being weaker than expected. However, they still believe that Hill has the right approach.
Visible Alpha tracks 20 analyst covering stocks. Nine have the Visible Alpha certification. “buy” It is given a nine-point rating. “hold,” The two of us “sell” ratings. They have an average price goal of $83, compared to $87 just before the report on Thursday. This would indicate a decrease from current prices.
Nike shares were little changed to close out Friday's session after recovering from earlier declines. They've lost close to 30% of their value since the start of the year.
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