Veteran analyst seriously resets Nike stock target amid key issues

Nike (NKE) has spent astir 2 years trying to person investors that it's connected way to present a turnaround successful its business.

However, this week, Evercore ISI, a intimately followed Wall Street firm, said the grounds connected crushed indicates otherwise, InvestorsHub noted.

Nike's banal is 1 of the worst performers among ample user brands successful 2026, and the analyst's telephone gave sellers thing to enactment on.

If you're holding Nike oregon simply observing its performance, the question that matters is however overmuch downside is near earlier things commencement picking up again.

Why Evercore turned cautious connected Nike banal

Evercore ISI downgraded Nike to "in line" from "outperform," a power from recommending the banal to treating it arsenic astir average, and chopped its terms people to $46 from $57, according to Investing.com.

The telephone followed weeks of transmission checks, wherever analysts way existent income astatine stores and distributors to gauge request earlier a company's authoritative net travel out.

Analyst Michael Binetti wrote that those checks support highlighting caller signs of weakness successful Nike.

Binetti besides chopped his nett estimates, trimming fiscal 2027 (FY27) net to $1.65 a stock from $1.70, beneath the $1.82 Wall Street expects.

Nike shares person mislaid astir a 3rd of their worth successful 2026 arsenic analysts question the gait of its turnaround.JIM WATSON / Getty Images

3 problems Evercore flagged astatine Nike

Binetti's downgrade rested connected 3 circumstantial anemic spots successful Nike's business.

Where Nike is losing crushed

• U.S. manner and household stores: Order cancellations and pushbacks are moving higher than Nike planned, a motion that casual buyers are stepping back.

• Jordan retro launches: Re-releases of classical Air Jordans, which the concern usually depends connected to marque sales, are landing softly.

• Europe supply chain: Shipping snags are delaying World Cup merchandise arrivals, conscionable arsenic shot request should peak.

Together, they explicate wherefore Evercore present doubts Nike tin clasp the premium valuation it earned implicit decades.

How Nike's CFO alteration raises the stakes

A time aft the downgrade, Nike named erstwhile Pfizer concern main David Denton arsenic its caller main fiscal officer, effectual August 17, according to Investing.com.

He replaces Matt Friend, who remains done September 4, Investing.com reported.

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Evercore called the timing awkward.

A CFO arriving successful mid-August would person lone weeks to larn the concern earlier absorption lays retired a multi-year program astatine Nike's capitalist day, which CEO Elliott Hill expects successful November.