Truist Securities downgraded Nike shares to Hold from Buy and lowered its price target. Disappointing results and a reduced outlook from DICK’S Sporting Goods triggered the downgrade. The retailer reported deteriorating trends across the footwear sector.
The move underscores growing concerns regarding Nike’s inventory cleanup and turnaround strategy. Analysts are seeking clarity on the company's 2027 product pipeline before becoming more positive on the stock.
This follows a significant share price decline throughout 2026. The downturn substantially impacted the net worth of Nike founder Phil Knight.