Nike: Near-Term Reset but Improving Fundamentals Support Multi-Year Buy Thesis

Analyst Sam Poser of Williams Trading maintained a Buy rating on Nike, reducing the price target to $80.00.

Sam Poser has given his Buy rating due to a combination of factors that balance near-term challenges with improving underlying fundamentals. He notes that North America, Nike’s largest and most profitable region, is showing clear signs of recovery, with revenue growth and an earnings beat that exceeded expectations, and he expects margins to strengthen in the second half of fiscal 2026 as promotions and off-price shipments normalize. While he trims earnings forecasts and lowers his price target, he emphasizes that the majority of Nike’s global revenue actually outperformed consensus, indicating that the core business remains solid despite headline weaknesses.

At the same time, Poser acknowledges that the operational reset in Greater China and at Converse is proving more extensive than previously anticipated, pressuring results in the near term. However, he frames the required promotional activity, inventory write-downs, and strategic repositioning in these areas as a temporary drag rather than a structural impairment to Nike’s long-term earnings power. As tariff pressures in North America are expected to ease and the clean-up efforts begin to bear fruit, he anticipates a healthier margin profile and renewed growth, supporting a positive risk-reward outlook for the stock over a multi-year horizon, even with a reduced price target.

According to TipRanks, Poser is a 5-star analyst with an average return of 16.3% and a 50.40% success rate. Poser covers the Consumer Cyclical sector, focusing on stocks such as Crocs, Nike, and Steven Madden.

In another report released today, Bernstein also maintained a Buy rating on the stock with a $85.00 price target.