Nike price target lowered to $109 from $112 at Bernstein

Bernstein analyst Aneesha Sherman lowered the firm’s price target on Nike to $109 from $112 and keeps an Outperform rating on the shares. Based on in-depth conversations with former Nike execs, the firm highlights three driving factors behind the company’s innovation slowdown, namely a too complex design process, feedback loops that were taken away, and leadership not focusing on product. They’re all fixable, but it will be a slow process, unlikely to be resolved until at least the first half of 2026, Bernstein argues.