Nike Price Target Lowered by Evercore Despite Maintaining Outperform Rating

Evercore ISI lowered its price target on Nike (NYSE: NKE) to $69 from $77, while maintaining an Outperform rating, citing softer earnings expectations. The firm reduced its fiscal 2027 EPS estimate to $2.00 from $2.30, but maintained a positive stance on the stock as sentiment remains near recent lows. Nike shares have declined 18% year-to-date, underperforming the broader discretionary sector, which is down 10%. Evercore attributed the weakness to concerns around slowing growth in China, limited innovation ...