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HSBC downgrades Nike, cuts price target from $90 to $48 amid weak sales and uncertain recovery.

Analyst Insights
13 Apr 2026
24/7 Wall Street
View Source
Bearish
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HSBC analyst downgraded Nike stock from Buy to Hold and slashed the price target from $90 to $48 due to ongoing challenges in key markets like Converse, China, and Europe. Despite four consecutive earnings beats, Nike's revenue is flat and profitability is declining, with net income down 35% year over year. The downgrade reflects skepticism about Nike's turnaround, which lacks short-term catalysts and clear recovery signs. Investors will watch Nike's next earnings for improvements in China and Converse performance, while the dividend yield remains attractive but its sustainability is uncertain amid margin pressures.

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