BUZZ - Berenberg downgrades Nike rating to "Sell", stock price falls

路透社2026/10/06 09:31

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October 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.

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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.)

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Search string for querying individual stock trends: STXBZ "Today's Outlook" newsletter: https://refini.tv/3LI4BU7 "Morning News Briefing": https://refini.tv/3dKUyB8 Reuters, October 6 - U.S. stock index futures rose on Tuesday as Treasury yields retreated from multi-year highs and oil prices declined, providing a bit of relief for investors ahead of the quarterly earnings season. ** MYR Group MYRG.O: Market Spotlight — Jefferies upgraded MYR Group to "Buy"; stock price rose nL4N45S0PK ** Spyre Therapeutics SYRE.O: Market Action — Spyre Therapeutics shares fell due to a $350 millions stock offering nL6N45S0PG ** AMD.O: Market Action — AMD shares rose on plans to increase chip supply nL4N45S0Q7 ** Constellation Energy CEG.O: Highlight — Alphabet reportedly close to signing a multi-year nuclear energy deal, Constellation Energy shares climbed nL6N45S0HX ** Nike NKE.N: Highlight — Berenberg downgraded Nike to "Sell"; shares declined nL6N45S0KB ** Option Care Health OPCH.O: Highlight — Option Care Health surged after reportedly receiving a buyout offer exceeding $5 billions nL4N45S0L5 ** Freshworks Inc FRSH.O: Market Action — Freshworks stock advanced as it is set to be added to the S&P SmallCap 600 nL4N45S0IT (For the convenience of non-English speakers, Reuters automatically translates its reports into various other languages. As automatic translation may be inaccurate or lack necessary context, Reuters does not guarantee the accuracy of automated translations and provides them solely for readers' convenience. Reuters is not responsible for any damage or loss caused by the use of automatic translation features.)

路透社•2026/10/06 11:48

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MT newswire•2026/10/06 11:38