Stifel maintained its 'Hold' recommendation on Nike Inc. (NKE) following a footwear market survey that showed the company's brand popularity rising to 45.8% in 2026, an increase of 7.6 percentage points from the prior year. The brokerage also raised its price target to $45 from a prior level, citing Nike's ongoing restructuring efforts and product performance, including the sustained popularity of the Air Force 1 model.
The survey, conducted across 110 U.S. retail stores during the back-to-school season, placed Nike ahead of competitors despite its shares trading near a 52-week low of $38.86, closing at $40.75 on Monday. Nike's market capitalization stands at approximately $60.5 billion, down nearly 47% over the past 12 months.
Analysts at Stifel noted that Nike's popularity, while improving, remains well below its 2021 peak of 92.5% and has fluctuated significantly, including a historical low of 38.2% during the 2025 back-to-school season. The company has restructured around 8,000 employees into vertical teams aligned by sport modality under its 'Sport Offense' operating model, a move aimed at streamlining operations.
Nike's recovery has been uneven, with strength concentrated in specialty sporting goods retailers such as Foot Locker. The company's decision to close its online wholesale business in China and reduce low-quality direct-to-consumer online sales has drawn mixed reactions from analysts. Bernstein SocGen Group maintained an 'Outperform' rating but lowered its price target to $68 from $72, while JPMorgan downgraded Nike from 'Neutral' to 'Underweight,' citing concerns over the financial impact of its 'Win Now' strategy.
An investor day scheduled for November, following the release of Nike's first-quarter fiscal 2027 earnings, is expected to provide further clarity on the company's strategic direction and operational improvements.
