Truist Securities downgrades Nike to Sell from Hold, keeps price target at $29

What happened

Truist Securities lowered its rating on Nike from Hold to Sell and kept its price target at $29. Its analysts pointed to weaker sportswear and Jordan demand, unsold retro Jordan products, rising inventory, slowing running momentum, tougher sales comparisons, and weakening sales in China.

Global impact / market context

The warning suggests Nike may face pressure to sell products and improve demand, especially in China. Truist’s unchanged $29 target was below Nike’s Nov. 4 closing price of $40.49, but it is an analyst estimate, not a guaranteed outcome.

What to watch

1. Check whether Nike’s sportswear and Jordan demand continues to weaken, since Truist said these products generate over 60% of revenue.
2. Check for updates on Nike’s China sales, because Truist said it was uncertain when they might bottom.
3. Check for signs that inventory is easing, since Truist cited rising inventory and unsold retro Jordan products.

Affected assets

• NKE

Evidence

• Infoway News — Nike Slapped With Sell Rating as Trouble Runs Deeper Than Fading Jordan Magic — Barrons.com 2026-11-05T15:15:00+00:00
• Infoway News — NKE Downgraded To 'Sell' At Truist As Analyst Flags 'Numerous Issues' Despite Nike's Recent Rally 2026-11-05T11:54:45+00:00
• Infoway News — Nike Cut to Sell From Hold by Truist Securities 2026-11-05T11:42:00+00:00
• Infoway News — Truist Securities downgrades Nike to Sell from Hold, keeps price target at $29 2026-11-05T11:31:28+00:00
• Incident timeline — Nike Slapped With Sell Rating as Trouble Runs Deeper Than Fading Jordan Magic — Barrons.com
• Incident timeline — NKE Downgraded To 'Sell' At Truist As Analyst Flags 'Numerous Issues' Despite Nike's Recent Rally
• Incident timeline — Nike Cut to Sell From Hold by Truist Securities
• Incident timeline — Truist Securities downgrades Nike to Sell from Hold, keeps price target at $29