UBS has maintained its 'Neutral' rating for Nike and set a target price of $80 for the stock.
Analyst Jay Sole has expressed interest in engaging with the new CEO, Elliott Hill, to address ten critical questions that have arisen following the quarterly report.
Despite a slight recovery in share price, Nike has faced significant challenges in the market. On December 14, 2024, Nike shares saw a modest increase of 0.18%, trading at €73.49. This uptick comes after a decline of 1.65% in the previous month.
The company has adjusted its dividend policy, increasing the quarterly payout to 2.5% in the second quarter.
Nike's stock has not been immune to the pressures of the current market environment. On December 13, 2024, shares traded at €73.55, reflecting a 1.30% drop from the previous day. The company's market capitalization stands at €87.4 billion, but a year-on-year analysis reveals a decline of 32.79%.
The recent downgrade by OTR Global shifted Nike's stock rating from "mixed" to "negative." Morgan Stanley slightly lowered its price target from $82 to $80 while maintaining an 'equal weight' rating. Raymond James revised its estimates for Nike shares downward, anticipating that the fiscal second quarter results will fall slightly below consensus estimates.
Investor sentiment remains a critical factor in determining the company's future trajectory. The upcoming quarterly report will be pivotal for Nike as it will provide insights into the company's operational performance and strategic direction under new leadership.