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Piper Sandler downgrades Nike to Neutral, citing slow turnaround and ongoing challenges.

Analyst Insights
10 Apr 2026
24/7 Wall Street
View Source
Bearish
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Piper Sandler downgraded Nike stock from Overweight to Neutral with a $50 price target, reflecting concerns over the slow progress of Nike's turnaround under CEO Elliott Hill. Nike shares have fallen 30% year-to-date, pressured by declining revenue in Greater China, shrinking digital sales, and margin compression due to tariffs. The firm's cautious outlook contrasts with broader analyst optimism, highlighting risks from competitive pressure and structural challenges. Long-term investors may find comfort in Nike's dividend streak, but near-term recovery remains uncertain.

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