Bank of America Cuts Nike Stock Target from $47 to $30 Amid Soft Sales
Nike's stock has faced two recent warnings from prominent financial institutions. Bank of America (BofA) downgraded Nike from Neutral to Underperform and cut its price target from $47.00 to $30.00 on September 25, 2026. This reduction is the sharpest warning about Nike's recovery pace.
The bank also lowered BofA's fiscal 2027 and fiscal 2028 earnings-per-share estimates by 11.00% and 12.00%, respectively, and expects sales to decline through fiscal 2027. Meanwhile, Royal Bank of Canada (RBC) cut its price target from $45.00 to $40.00 while maintaining a Sector Perform rating on September 29, 2026.
Nike is scheduled to report its fiscal first-quarter 2027 results after regular trading ends on October 1, 2026. The company's latest quarterly revenue was $10.97 billion, which declined 1.10% year-over-year. Analysts expected a lower figure of $10.85 billion.
The discrepancy between Nike's reported and predicted numbers leaves forward guidance and regional demand as key evidence in the next update. The NYSE range for Nike is $35.22 to $76.97, with a market capitalization of $52.4 billion.