Nike shares have fallen 44% in 2026 amid weaker Chinese demand and competition from brands including On Holding. Ahead of Nike’s fiscal first-quarter 2027 results, scheduled for October 1, 2026 and due before Thursday’s opening bell, Jefferies analyst Randal Konik maintained a Buy rating and $75 price target, implying potential gains of more than 100% from Friday’s $35.75 close. Konik forecasts earnings per share of $0.48 and revenue of $11.5 billion, above consensus estimates of $0.44 and $11.3 billion. Bank of America downgraded Nike to Underperform with a $30 target, citing concerns about its innovation pipeline, while BTIG raised its target to $55 and Stifel cut its target to $40. Jefferies expects North American operations, wholesale channels and margins to stabilize, but sees continued pressure in China, Europe, Direct-to-Consumer channels and key categories. Nike’s November 16-17 investor day and incoming CFO David Denton’s updated fiscal 2027 and 2028 targets may prove more consequential than the immediate earnings release.