HSBC analyst Erwan Rambourg downgraded Nike (NKE) to Hold from Buy with a price target of $48, down from $90. The firm says the company’s turnaround is now a “show me story with no short-term catalysts.” Weakness in Nike’s Converse brand, China and Europe, Middle East, and Africa, and sportswear continues to weigh on the the company’s recovery. HSBC cites limited visibility for the downgrade.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on NKE:
- Nike Stock (NKE) Gets Another Downgrade After Disastrous Earnings
- Morning News Wrap-Up 4/10/26: Today’s Biggest Stock Market Stories!
- Nike Stock Forecast: Trending Analyst Signals Cautious Optimism
- Datadog, Texas Instruments, Dell, ServiceNow, Nike Trending With Analysts
- Nike (NKE) Loses Its Innovation Chief in Under a Year as Pressure Builds