Evercore ISI has downgraded Nike and cut its price target, signaling skepticism about the sportswear giant’s ability to execute its current turnaround strategy.
Nike Inc (NKE) is facing renewed selling pressure from Wall Street as Evercore ISI joined a chorus of bearish analysts by cutting its price target for the sportswear giant.
The research firm’s move marks the second downward revision for the stock this week, with no analysts raising their outlooks, signaling a broadening consensus of doubt regarding the company’s current strategic trajectory.
The latest downgrade underscores growing skepticism about Nike’s ability to execute its ongoing turnaround strategy.