Evercore Cuts Nike Target to $69; Telsey Lowers to $65
Evercore ISI cut its Nike price target to $69 from $77 and trimmed fiscal 2027 EPS to $2.00 from $2.30 as shares have slid 18% year-to-date, underperforming the discretionary sector. Separately, Telsey Advisory lowered its price target from $72 to $65, pushing the stock to a 52-week low of $51.95.
1. Evercore Price Target Cut
Evercore ISI lowered Nike’s price target to $69 from $77 and reduced its fiscal 2027 EPS estimate to $2.00 from $2.30, citing softer earnings expectations and decelerating growth in China. The firm maintained an Outperform rating as North American demand stabilizes while Europe faces higher promotional activity.
2. Telsey Advisory Downgrade and 52-Week Low
Telsey Advisory Group cut its price target on Nike from $72 to $65, transitioning to a Market Perform rating. Shares traded as low as $51.95, marking a new 52-week low as the stock underperforms the broader discretionary sector by roughly 8 percentage points year-to-date.
3. Upcoming Earnings and Investor Sentiment
Nike is scheduled to report quarterly earnings after the closing bell on Tuesday. Traders anticipate significant volatility, with some forecasting the stock could reach multi-year lows if results disappoint, while World Cup-related marketing initiatives may offer a short-term catalyst.