Bernstein Sees 84% Upside for Nike Stock as Shares Sink 48% in 12 Months

1 articles · Updated · 24/7 Wall St. · Aug 18

Bernstein kept a $72 target on Nike, implying about 84% upside from its $39.09 share price even after the stock fell 47.81% over the past year.
Nike’s slump followed a weak Q1 FY27 picture: revenue slipped 1%, Greater China fell 17% currency-neutral, Converse dropped about 32%, and adjusted EPS was only $0.20 excluding a $986 million tariff recovery.
Bernstein’s case hinges on Nike cutting back over-distributed Classics, easing promotions and lifting margins before sales recover; management said running has logged five straight quarters of double-digit growth and gross margin reached 49.2%.
Insider activity clouds that thesis: CFO Matt Friend, President Amy Montagne and three other executives sold shares in 13 disclosed trades from mid-June to early August, with no open-market purchases.
Wall Street remains cautious, with Nike carrying 1 Strong Buy, 11 Buy and 25 Hold ratings and a $50.66 average target, while Investor Day on Nov. 16-17 is seen as a key test for the turnaround.