Nike price target lowered to $57 from $69 at Evercore ISI

Evercore ISI analyst Michael Binetti lowered the firm’s price target on Nike (NKE) to $57 from $69 and keeps an Outperform rating on the shares. Nike’s turnaround is proving “tougher and slower than hoped,” with new headwinds pushing any real EPS inflection further out and “well into” FY27 or FY28, the analyst tells investors in a post-earnings note.