Nike price target lowered to $90 from $97 at Truist

Truist lowered the firm’s price target on Nike (NKE) to $90 from $97 after its Q2 results and outlook, though the firm keeps a Buy rating on the shares and believes that “sentiment is bottoming”. CEO Hill’s accelerated turnaround efforts are driving more pressure on the outlook for the second half of FY25, but despite the incremental near-term pain, the strategy and soft guidance yields beat and raise opportunities, easier comparisons for FY26, and accelerates the timeline for a potential return to growth and premium positioning, the analyst tells investors in a research note. Truist adds that it is encouraged about the team’s sense of urgency and their strategic focus areas, especially improving wholesale positioning.