RBC Capital reiterated its Sector Perform rating on Nike Inc. (NYSE: NKE) with a price target of $45.00, following a meeting with CEO Elliott Hill in London on August 24, 2026. The stock last traded at $40.75, near its 52-week low of $38.86, and has declined 35% over the past six months.
Analyst Piral Dadhania described management’s tone as balanced, acknowledging both opportunities and challenges amid a mixed consumer environment. Execution delays were attributed to industry timelines and geopolitical disruptions, including the conflict in Iran, which has impacted recovery efforts.
Nike also outlined strategic steps to improve profitability, including the closure of its online wholesale business in China and a reduction in low-quality direct-to-consumer online sales. The moves aim to strengthen brand value, increase full-price sales, and reduce aggressive discounting and parallel market activity.
Other firms have adjusted their assessments of Nike. Bernstein SocGen Group lowered its price target from $72 to $68 while maintaining an Outperform rating. JPMorgan downgraded Nike from Neutral to Underweight, and Stifel maintained a Hold rating.
Management provided a forward-looking timeline, including a capital markets day scheduled for November 2026 to outline a financial framework. Margin improvements are expected in the first half of 2027, with lifestyle product launches planned for the second half of the same year. JPMorgan noted that its "Win Now" decisions could impact financial statements late in 2027 and throughout fiscal 2028.
Additionally, Johanna Nielsen, Vice President, Chief Accounting Officer, and Corporate Controller, will depart Nike effective September 4, 2026. Executive Vice President and CFO David Denton will temporarily assume her responsibilities.
