Barclays upgraded Nike to overweight from equal-weight on March 12, 2026. The firm increased its price target for the athletic apparel giant to $73.
Analysts suggest investor pessimism has peaked and the company’s financials have reached a fundamental bottom. The upgrade cites recent operational progress and disciplined management actions as drivers for a potential recovery.
Nike shares rose as much as 2% in early trading to lead the Dow Jones Industrial Average. The new price target represents a potential upside of approximately 30% from current levels.
This shift in sentiment precedes Nike’s third-quarter earnings report scheduled for release on March 31.