Truist Securities analyst Joseph Civello reiterated a Hold rating and $85.00 price target on Nike (NYSE: NKE).

The analyst commented: "NKE has meaningfully outperformed since its post-F4Q EPS-lows (shares are up 16% since 6/28/24 vs the S&P 500’s 5% gain over that period). While we are hopeful that management changes can help Nike right the ship, we believe that (1) current expectations for a 2HF25 sales ramp look optimistic and (2) view a potential turnaround as a long/uncertain process (especially in this choppy macro environment while competition from higher-heat brands continues to accelerate). With shares trading at ~28.5x Street’s FY25 EPS forecasts (up ~4.5x since August 1st) we believe the risk/reward looks balanced and maintain our Hold rating."

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Shares of Nike closed at $87.46 yesterday.