Nike price target lowered to $78 from $85 at RBC Capital

RBC Capital lowered the firm’s price target on Nike (NKE) to $78 from $85 and keeps an Outperform rating on the shares. Nike’s path to profitable growth remains intact, though timelines have lengthened due to pressure from Greater China, Converse, and U.S. tariffs on margins, the analyst tells investors in a research note. Despite 8%-10% estimate cuts, $3 EPS by FY28E is still expected, and recent share price weakness has brought valuation closer to historical averages, with insider buying adding to the appeal, the firm adds.