JPMorgan downgraded Nike from neutral to underweight and cut its price target to $40, implying a 6% decline from Monday’s close. Analyst Matthew Boss noted that the financial impact of « Win Now » decisions made through the end of 2026 will linger and affect Nike’s P&L in the second half of 2027 and into fiscal year 2028. The company faces headwinds in China, where the revamp of its digital marketplace could create a $1 billion revenue headwind, as well as in North America, where the planned 10% reduction in U.S. store footprint will weigh on financials until around July 2027. Shares were tumbling more than 3% in premarket trading Tuesday. Of the 42 analysts covering the stock, 25 rate it a hold and 2 assign an underperform-equivalent rating.
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