BofA Securities reiterated its Underperform rating on Nike Inc. on October 2, 2026. The firm lowered its price target to $24 from $30.
BofA cited limited visibility into a sales turnaround. It expects revenue to continue declining through fiscal 2027.
Nike’s Sportswear and Jordan brands remain under pressure, while revenue has fallen significantly in Greater China. Nike shares traded sharply lower pre-market after the company recently reported falling revenues and announced plans for layoffs in 2027.