Analysts Adjust NIKE Price Targets Downward

Following a recent Federal Reserve interest rate cut, Jim Cramer discussed the implications on various stocks, including NIKE (NYSE:NKE), indicating a misalignment in the Fed's messaging and predictions. Analysts have adjusted their price targets for NIKE, with Robert W. Baird lowering it from $110 to $105, while Truist Financial decreased its target from $97 to $90, maintaining a 'buy' rating. Other firms like UBS and Barclays have also reduced their price objectives, reflecting a cautious outlook on NIKE's stock, which now sees a consensus rating of 'Moderate Buy' at an average target price of approximately $89.77. Despite these adjustments, NIKE recently reported a quarterly EPS of $0.78, surpassing estimates, with revenues totaling $12.35 billion. However, this revenue marks a decline of 7.7% compared to the same period last year. The overall market sentiment appears mixed as analysts weigh the Fed's economic signals against NIKE's financial performance.