Berenberg downgrades Nike to Sell, cuts price target to $27.50

Berenberg analysts cut Nike to Sell from Hold, slashing the price target to $27.50 from $49. They said the market structure has shifted irreversibly against the sportswear giant after its weak fiscal 2027 outlook. BNP Paribas also reiterated an Underperform rating with a $19 target, flagging reduced disclosure and dividend sustainability concerns. Only 26% of analysts now rate Nike a Buy, the lowest in at least 20 years.