Nike price target lowered to $66 from $67 at RBC Capital

RBC Capital lowered the firm’s price target on Nike (NKE) to $66 from $67 and keeps a Sector Perform rating on the shares. The company’s Q3 results were slightly better than expected, but much of the top line and earnings beat was timing related, which should unwind in Q4 based on Nike’s guidance, the analyst tells investors in a research note. The management is taking the right steps to clear marketplace inventory and accelerate Performance based new product flow, but the management messaging suggests spillover into the first half of FY26, which is consistent with the firm’s prior view that it remains too early to be more positive on Nike shares, RBC added.