Nike Down 32% YTD; BTIG Maintains Buy Rating with $55 Target

Multiple Wall Street firms reaffirmed support for Nike shares despite a sharp decline this year. BTIG said the roughly 32% drop in Nike stock has created an overly negative market view, maintaining its Buy rating with a $55 price target and citing confidence that management's restructuring initiatives will improve margins and cash flow.

Jefferies lowered its price target to $75 from $90 but kept its Buy rating, noting improvements in China and performance products, though sportswear and Jordan streetwear remain weak areas. Bernstein trimmed its price target to $72 from $80 while maintaining Outperform, expecting stronger recovery by calendar 2027 as Nike improves product innovation and full-price selling.