Bank of America repeats Underperform for sportswear company Nike and cuts its price target to 24 dollars from 30 dollars.
Weak sales in Sportswear, Jordan and China are expected to persist into 2028.
Nike guides for a high-single-digit sales decline in 2027 and earnings per share of 1.15–1.35 dollars, versus consensus of 1.67 dollars.
BofA cuts its earnings forecasts for 2027 and 2028 by 21 and 22 percent, respectively.
At the same time, weak sales momentum risks putting pressure on wholesale orders, while Performance continues to grow.
