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Investing.com - Truist Securities lowered its price target on Nike (NYSE:NKE) to $73.00 from $82.00 on Tuesday, while maintaining a Buy rating on the athletic apparel giant. For a comprehensive analysis of Nike’s valuation metrics and growth potential, investors can access detailed financial insights through InvestingPro.
The price target reduction comes as Nike faces ongoing pressure from its "Win Now" turnaround efforts and macroeconomic volatility, according to Truist Securities.
The firm expects Nike management to provide a "fairly-pessimistic" outlook for the first quarter of fiscal year 2026 and continue to withhold full-year projections when the company reports earnings on Thursday.
Truist Securities lowered its fiscal year 2026 earnings per share forecast for Nike to $1.45 from $2.00, which it believes aligns with broader market expectations.
The firm expressed caution about Thursday’s earnings report, noting that "potential positives NKE can talk to for F1Q26 are limited" and investors will likely remain cautious until there is "more evidence that the last cut is in."
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