(Updates to include the analyst commentary).

BofA Securities lowered its price target on Nike (NKE) to $24 from $30 following the sport apparel maker's Q1 earnings, with management expecting high-single-digit sales decline in 2027, and pressure from Sportswear, Jordan Brand, and China continuing at least into 2028.

The visibility on a sales turnaround remains limited, analysts led by Lorraine Hutchinson wrote in a Friday note, adding that they continue to see downside risk to the premium multiple until the timing of a revenue inflection becomes clearer.

Nike has an average rating of hold and mean price target of $39.57, according to analysts polled by FactSet.

(MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www.mtnewswires.com/contact-us)

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