Nike price target lowered to $82 from $90 at Truist

Truist lowered the firm’s price target on Nike (NKE) to $82 from $90 but keeps a Buy rating on the shares after its Q3 results and outlook. The management’s commentary indicated that accelerated turnaround efforts are driving more pressure on the FY26 outlook, but despite the near-term pain, the firm continues to believe that Nike is taking the right approach to accelerate a potential return to growth, the analyst tells investors in a research note. Truist adds that it remains encouraged by the management’s sense of urgency and modest early wins with improvements in product, marketing, and wholesale relationships, the firm adds.