Nike Stock Bounces Back as Analysts See Turnaround Gaining Traction

Nike's stock price has been on a rollercoaster ride this year, but Wall Street analysts believe the company's turnaround efforts are gaining traction. According to BTIG, the nearly 32% drop in Nike shares since the start of the year has created an overly negative market view.

The firm maintains its 'Buy' rating and a $55 price target, citing progress made during fiscal 2026 and expressing confidence that management's initiatives will improve EBIT margins and strengthen cash flow in the coming quarters.

Jefferies also sees signs of improvement in China and growth in Nike's performance products, but notes that sportswear and Jordan streetwear remain weaker areas that will require additional time to recover. The firm lowered its price target from $90 to $75 while keeping its Buy rating.