Wells Fargo Lowers Nike Price Target Amid Market Uncertainty

Nike Inc., the global manufacturer of athletic footwear, apparel, and equipment, received an updated rating from Wells Fargo analyst Ike Boruchow. On October 2, 2026, Boruchow maintained an Equal-Weight rating for Nike but lowered its price target to $30, a significant 25% reduction.

The adjustment reflects current market conditions and expectations for the company's performance. According to the GF Value, Nike is currently trading at a 54.2% discount compared to its intrinsic value of $72.64.

Nike operates in the Consumer Cyclical sector with a market capitalization of approximately $49.38 billion. The company generates revenue through various channels, including direct-to-consumer sales and wholesale distribution.