BUZZ - Bank of America turns bearish, Nike shares decline

September 25 - ** Before Friday's opening, Nike (NKE.N) shares fell 2.4%, to $35.13, after BofA Global Research downgraded the sportswear giant’s rating from “neutral” to “underperform”

** The brokerage lowered its target price from $47 to $30, which suggests nearly 17% downside compared to the stock's latest closing price

** According to thefly.com, BofA believes Nike (NKE)’s business recovery is taking longer than expected, and both profit forecasts and valuation face downside risks; analysts now expect fiscal 2027 sales to decline (link)

** In June, Nike noted (link) that persistent weakness in the Chinese market and cautious guidance outweighed the slight fiscal Q4 revenue beat, extending the timeline for business restructuring

** LSEG data shows that among 44 brokerages, 13 rated the stock as “strong buy” or “buy”, 25 as “hold”, and 6 as “sell”; the median target price is $44.80

** As of Thursday’s close, the stock had fallen 43.5% so far this year, lagging far behind the S&P 500 Consumer Discretionary sector’s 5% drop .SPLRCD

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