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‘Risks Are Rising’ for Nike and It’s Time to Sell the Stock, Says Bank of America
Nike shares have lost more than 40% of their value since the start of the year.Credit: Caleb Bowlin / Getty ImagesKey TakeawaysBank of America downgraded Nike stock to “underperform” and cut its price target to $30.Analysts at the bank said they now expect Nike to report another sales decline in fiscal 2027, pushing a turnaround to fiscal 2028. The company is set to report earnings after the closing bell next Thursday. Nike’s turnaround is looking like it might take a lot longer than expected, according to Bank of America. Analysts at the bank downgraded Nike (NKE) shares to “underperform”…
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