BofA Downgrades Nike to Underperform and Cuts Target to $30

US Markets26 days ago

Shares of the sportswear giant fell 2.1% before the market opened after a major investment bank issued a critical rating on the stock. BofA Securities lowered Nike's credit rating to Underperform from Neutral and reduced its price target to $30, down from a previous forecast of $47.

Analysts at Bank of America warned that risks are rising for the company's turnaround efforts and advised investors to sell shares now. The firm's downgrade reflects a declining confidence in the apparel brand's current recovery strategy and overall growth outlook.

Mapped to your portfolio

Possible scenarios

35%Downturn Deepens-0.0%
30%Turnaround Stabilizes+0.0%
20%Rivals Gain Share+0.0%

Each figure is the modeled move of the S&P 500 if the outcome occurs. For information only. Not investment advice.

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BofA Downgrades Nike to Underperform and Cuts Target to $30

In this story

Nike Bank of America

Portfolio

SPY
State Street SPDR S&P 500 ETF Trust
100%

Portfolio

SPY
State Street SPDR S&P 500 ETF Trust
100%

Mapped to your portfolio

Possible scenarios

35%Downturn Deepens-0.0%
30%Turnaround Stabilizes+0.0%
20%Rivals Gain Share+0.0%

Each figure is the modeled move of the S&P 500 if the outcome occurs. For information only. Not investment advice.