Nike dips after bleak revenue outlook, brokerages trim PT

Sportswear giant Nike NKE.N shares down 4.54% at $68.60 in premarket trading

Co forecast a steeper drop in fourth-quarter revenue than analysts had expected, striking a cautious tone as it works to rekindle interest among consumers who have defected to trendier rivals

"While the strategy to turn the business is the right one, the remainder of FY25, as well as FY1H26 will be a reset and rebase period, resulting in negative pressure on sales and margins," Barclays says

At least four brokerages cut PT on the stock following results, including J.P.Morgan and Bernstein

19 of 39 brokerages rate the stock "buy" or higher, 18 "hold" and two "sell"; their median PT is $90 - data compiled by LSEG

Up to last close, stock had fallen ~5% YTD