Bank of America downgraded Nike (NKE) to Underperform. The bank slashed its price target for the stock to $30. Analysts expect the company's business turnaround to be delayed by a full fiscal year.
Weakening sales in Greater China and lifestyle segment challenges drove the revision. The bank lowered its earnings per share estimates for fiscal 2027. It also reduced earnings estimates for fiscal 2028.
Nike shares fell approximately 2% during early trading. The market reaction occurred on September 25, 2026. The decline was specific to Nike as other athletic apparel stocks traded flat. Investors are monitoring the upcoming quarterly earnings report for signs of recovery.