Nike price target lowered to $65 from $68 at Stifel

Stifel analyst Peter McGoldrick lowered the firm’s price target on Nike (NKE) to $65 from $68 and keeps a Hold rating on the shares. The pace of recovery remains uneven with fiscal Q2 upside and positive reported revenue growth coupled with a Q3 guidance miss and down low-single digit topline outlook, the analyst tells investors in a post-earnings note. While acknowledging temporary margin pressures and uneven demand trends, the firm views management’s double-digit percentage EBIT margin ambition as “achievable” in FY28, but struggles to make a risk-adjusted upside case given Nike’s valuation premium to the footwear group.