Nike price target lowered to $73 from $78 at TD Cowen

TD Cowen lowered the firm’s price target on Nike (NKE) to $73 from $78 and keeps a Hold rating on the shares. The firm says meetings with channel contacts and field work leave it more cautious on the state of Nike’s business. It thinks the potential for another reset to consensus earnings expectations for fiscal 2026 are higher than consensus anticipates. Tariffs and China’s retaliation are a rising risk post the election, the analyst tells investors in a research note. Nike has ceded share in run specialty, tennis and more recently in lifestyle, while smaller competitors, such as Hika, On, Asics and Saucony continue to perform well in both lifestyle and performance running, contends TD. The firm also sees “Jordan retro fatigue” along with the other over-distributed franchises that Nike management is currently involved in managing down.