Bank of America downgraded Nike on Sept. 25 and cut its price target from $47 to $30, citing weak wholesale momentum and challenges in China sales. Nike closed at $35.75, down 0.67%, ahead of its Oct. 1 earnings report.
The analyst also lowered Nike’s projected earnings per share to $1.43 for 2027 and $1.87 for 2028, saying its turnaround may take longer than expected. Motley Fool’s author said Nike’s $1.64-per-share dividend could be at risk if that outlook materializes, because payouts would exceed net income.
The article notes that Nike shares have lost three-quarters of their value over the past five years.
