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.
Claim 50% Off TipRanks Premium and Invest with Confidence
- Unlock hedge-fund level data and powerful investing tools designed to help you make smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis so your portfolio is always positioned for maximum potential
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on NKE:
- Nike: Near-Term Reset but Improving Fundamentals Support Multi-Year Buy Thesis
- Nike price target lowered to $70 from $85 at Truist
- Nike price target lowered to $68 from $78 at Needham
- Nike price target lowered to $77 from $89 at Goldman Sachs
- Nike Stock (NKE) Sells Off 10% as Analyst Warns ‘Turnarounds Take Longer’