JPMorgan Downgrades Nike on $1B China Revenue Hit

JPMorgan has downgraded its rating for Nike (NKE) to Underweight and lowered its target price to $40. The bank cited concerns over Nike's planned shift in China from 2027, where it will move to flagged Tmall, JD, and Douyin stores. This change could result in a significant revenue loss of approximately $1 billion for the company by fiscal year 2028.

Nike has announced that it will pay a quarterly cash dividend of $0.41 per Class B share on October 1, 2026, to shareholders who are recorded as such at the close of September 1, 2026.