BUZZ - Berenberg downgrades Nike rating to "Sell", stock price falls
路透社2026/10/06 09:31October 6th - ** Sportswear company Nike (NKE.N) saw its stock price drop about 1% in pre-market trading, quoted at $33.58 ** Berenberg Bank downgraded the stock from "buy" to "sell", cutting the target price from $49 to $27.50 ** Analyst Nick Anderson stated, "Nike seems to have accepted its declining position in sportswear," noting that the company plans to restructure its sportswear business around smaller business segments, which is interpreted as an acknowledgment that the market structure has "irreversibly" shifted against Nike ** The bank expects revenues to come under pressure until fiscal year 2028, management appears exhausted, and the “Pace” restructuring plan is unlikely to provide substantial help before fiscal year 2029; additionally, a recovery in the Chinese market is “far from guaranteed” ** Before this downgrade, S&P Global already lowered (link) its stock rating from "A+" to "A" this Monday and gave a "negative outlook," stating the company’s turnaround efforts (link) will require more time and higher investment ** Among 44 brokerages, 11 rate the stock as "buy" or higher, 25 as "hold," and 8 as "sell" or below; the median target price is $34.90—data compiled by London Stock Exchange Group (LSEG) ** As of the previous trading day's close, the stock had fallen about 47% year-to-date.
October 6 - ** Shares of sports apparel company Nike (NKE.N) fell about 1% in premarket trading, at $33.58
** Berenberg Securities downgraded the stock from "Buy" to "Sell," and lowered the target price from $49 to $27.50
** Analyst Nick Anderson stated: "Nike appears to have accepted its declining position in sports apparel," noting that the company plans to restructure its sports apparel business around a smaller set of categories, which is interpreted as an acknowledgment that the market structure has "irreversibly" shifted to Nike's disadvantage
** The brokerage expects revenue pressure through the fiscal year 2028, management appears fatigued, and the "Pace" restructuring plan is unlikely to provide substantial support before fiscal 2029; it also pointed out that recovery in the Chinese market is "not a certainty"
** Prior to this downgrade, S&P Global had on Monday (link) downgraded its credit rating on the stock from "A+" to "A" and gave it a "negative outlook," stating the company's turnaround efforts (link) would require more time and larger investments
** Of the 44 brokerages, 11 gave the stock a "Buy" or higher rating, 25 gave it a "Hold," and 8 gave a "Sell" or lower rating; the median target price is $34.90—data compiled by London Stock Exchange Group (LSEG)
** As of the previous session’s close, the stock had fallen about 47% year-to-date
(To assist non-native English speakers, Reuters has automatically translated its reports into several other languages. As automated translation may contain errors or lack necessary context, Reuters does not guarantee the accuracy of automated translations and provides them solely for reader convenience. Reuters accepts no responsibility for any loss or damage resulting from the use of automated translation features.)
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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