BofA Slashes Nike Earnings Outlook Amid Downgrade
Wall Street's enthusiasm for Nike Inc. has hit rock bottom as Bank of America Corp. downgraded its shares to underperform from neutral.
The move, made by analyst Lorraine Hutchinson, is a stark reversal of expectations for the sportswear maker.
Hutchinson pushed back her sales turnaround forecast to 2028 and slashed earnings estimates for 2027 and 2028, citing downside risks to profit and valuation.