Freedom Broker upgrades Nike to Buy and cuts price target to $51
Freedom Broker raised its rating on Nike (NKE) from Sell to Buy on October 2, 2026, while lowering its price target from $54 to $51. The upgrade follows Nike's first‑quarter fiscal 2027 results, which showed a 4% revenue decline to $11.2 billion and weakness in Greater China and EMEA. The broker cited the new Pace restructuring program, which it expects to deliver about $2.5 billion of cumulative savings through fiscal 2031.
Why it matters
The rating upgrade may attract value‑seeking investors despite the lower target, while the reduced price target reflects weaker near‑term outlook. The expected $2.5 billion in savings could improve Nike's profitability over the next several years, according to Freedom Broker.
Key facts
- 1Freedom Broker upgraded Nike to Buy from Sell on October 2, 2026. investing.com
- 2The broker lowered its price target to $51 from $54. investing.com
- 3Nike's Q1 fiscal 2027 revenue fell 4% year‑over‑year to $11.2 billion. finbold.com
- 4Nike expects fiscal 2027 revenue to decline at a high‑single‑digit rate. finbold.com
- 5The Pace transformation program is projected to generate approximately $2.5 billion of cumulative savings through fiscal 2031. investing.com
- 6Nike's shares were trading around $33.6 at the time of the upgrade. finbold.com
Summary written by AlphAI from 3 of 3 sources. Not investment advice. Figures are as stated by the linked sources.