Nike Was Betting Big On The FIFA World Cup - But This Analyst Just Killed The Turnaround Hype And Slashed Price Targets

RBC Capital Markets downgraded Nike, cutting its price target from $70 to $50, citing slower-than-expected revenue growth and delayed turnaround benefits. Despite beating Q3 revenue estimates, Nike faces challenges in consumer demand, flat year-over-year growth, and declining direct revenues. The analyst expects turnaround benefits to materialize only in 2027 rather than 2026, with projected revenue growth of just 3% versus the industry average of 6%.