Truist downgrades Nike to Sell and keeps $29 price target
Truist Securities lowered its rating on Nike Inc. from Hold to Sell, maintaining a $29 price target. The firm noted that Nike's shares had risen about 19% over the past month while the valuation climbed to roughly 27 times forward fiscal‑year earnings. It also highlighted a 4% year‑over‑year revenue decline in the first quarter and a 26% drop in Greater China revenue on a currency‑neutral basis. Additionally, Truist cut its fiscal‑2028 EPS estimate to $1.30, below the consensus of $1.50.
Why it matters
Truist’s downgrade suggests a potential downside of about 28% from the current price, according to its implied target. Investors may reassess exposure to Nike given the lower earnings outlook and valuation concerns.
Key facts
- 1Truist downgraded Nike to Sell from Hold and kept its price target at $29. investing.com
- 2Nike shares rose 19% over the past month. investing.com
- 3The stock’s valuation increased to 27 times forward fiscal‑year earnings. investing.com
- 4Nike reported a 4% year‑over‑year decline in fiscal Q1 2027 revenue. finance.yahoo.com
- 5Greater China revenue fell 26% on a currency‑neutral basis. finance.yahoo.com
- 6Truist cut its fiscal‑2028 EPS estimate to $1.30, below the consensus of $1.50. investing.com
Summary written by AlphAI AI Desk from 4 of 4 sources. Not investment advice. Figures are as stated by the linked sources.