Williams Trading analyst Sam Poser reiterated a Buy rating and $73.00 price target on Nike (NYSE: NKE)

The analyst comments "We are confident, as is Nike management, that 4Q25, represented worst of the YoY sales and margin trends. DTC, especially DTC digital trends will remain challenged, as the full price selling becomes more of a focus. At the same time, positive inflection for wholesale on both a comp and non-comp basis are becoming evident. As mentioned above, Holiday '25 gross wholesale orders are up YoY. Fall (July, August, September deliveries) gross wholesale orders are flattish YoY. However, net fall wholesale shipments are likely to be down YoY, as it will be negatively impacted by RTVs (Return to Vendor) and some cancelations, which are all part of the marketplace cleanup. Given that the marketplace is expected to be clean by the end of 2Q26 (We believe the market will be mostly cleansed by the end of September), the difference between the gross orders book and net Holiday shipments is likely to be di minimus. Over the past few quarters there have been significant shipments to the off-price channel, which were not part of any order book, and will not be lapped in late FY26. However, initial shipments to Amazon (AMZN-NR) and Shoe Show (Private) are likely to offset much of the off price sales, at higher margins."

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Shares of Nike closed at $62.54 yesterday.