Nike just downgraded at Stifel, here’s why

Stifel downgraded Nike to Hold from Buy with a price target of $88, down from $117. The company’s fiscal 2025 guide, the fifth downward consensus revision in six quarters, pushes prospects for a growth inflection further into 2025, which asks investors to both underwrite success of not yet proven styles and look across an uncertain consumer discretionary backdrop into the second half of 2204 until momentum could build again into the second half of 2025, the analyst tells investors in a research note. The firm says Nike management credibility “is severely challenged and potential for C-level regime change adds further uncertainty.”