Nike price target lowered to $75 from $90 at BTIG

BTIG lowered the firm’s price target on Nike (NKE) to $75 from $90 and keeps a Buy rating on the shares after its Q3 results. Within North America, Sportswear remains challenging and gross margin declined 130 basis points, pressured again by tariff costs, the analyst tells investors in a research note. The firm adds that Q4 revenues are expected to decline in China by 20% as the company is managing sell-in tightly. BTIG further notes that with the turnaround taking longer than anticipated, it is reducing its EPS estimates for Nike for FY26 to $1.52 from $1.70 and for FY27 to $1.90 from $2.50.