Analyst downgrades NKE to “in line” and slashes FY27 earnings forecast to $1.65 per share amid soft sales checks.
Evercore ISI lowered its Nike price target to $46 from $57 and downgraded the stock to “in line” from “outperform” after channel checks revealed persistent demand weakness. The firm cited higher-than-expected order cancellations and pushbacks in U.S. lifestyle and family stores as key concerns.
The downgrade follows a period of underperformance for Nike, which trails large consumer brands in 2026. Evercore also reduced its fiscal 2027 earnings estimate to $1.65 per share from $1.70, below the $1.82 consensus. Analysts flagged challenges in the Jordan brand and broader retail softness as additional headwinds.
Nike’s stock has struggled to regain momentum, with investors assessing potential downside risks before a turnaround materializes. The revised outlook reflects ongoing operational pressures and shifting consumer behavior.