On June 26, Nike fell 3.06% in regular trading, trading at $40.475/share, with turnover of $612 million. The decline comes amid a wave of analyst price target reductions and mounting concerns over a potential overhaul of the company's China online distribution strategy.

BTIG slashed its price target on Nike to $55 from $75 while maintaining a Buy rating, and Berenberg cut its target to $50 from $70 with a Hold rating. The consensus mean price target has declined to approximately $57.94. Oppenheimer noted that operational weakness is expected to persist for at least the next few quarters, though longer-term recovery prospects under new CFO David Denton remain constructive.

Separately, market speculation intensified that Nike plans to revoke all first-tier online distributor authorizations in mainland China starting January 2027, retaining only its official flagship store. Topsports International issued an emergency disclosure confirming it has not received any formal termination notice from Nike. Nike's Greater China revenue has posted negative growth for seven consecutive quarters, with the most recent quarter declining 10% on a constant-currency basis, amplifying near-term earnings uncertainty ahead of its June 30 report.

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