Nike price target lowered to $53 from $60 at Barclays

Barclays lowered the firm’s price target on Nike (NKE) to $53 from $60 and keeps an Equal Weight rating on the shares. The firm remains cautious on Nike heading into fiscal Q4 earnings report. It expects ongoing “franchise life cycle management,” a return to wholesale, tariffs, and China risk will weigh on the company’s fiscal 2026 performance. Barclays says it would get more constructive on the shares if Nike’s sales-to inventory growth inflects positively or estimates “are derisked.” While investor sentiment is “clearly cautious,” the Q4 report will be much less about the quarterly results and more focused on what management is seeing Q1, the impact from tariffs and mitigation strategies, and the expectations for fiscal 2026, the analyst tells investors in a research note.