美银证券发表研报，重申对耐克的“买入”评级，指出第二财季业绩显示北美市场及跑步品类表现向好，但部分被中国业务疲弱所抵销，毛利率指引未及该行预期的改善幅度。虽然该行目前对中国业务转型需时较长感到失望，但认为其他市场已出现改善迹象，相应将2026及2027财年每股盈利预测下调至1.39及2.40美元，目标价由84美元下调至73美元，相当于2027财年预测市盈率约30倍。 耐克指引第三财季收入将录得低单位数跌幅，美银证券预计Nike北美业务将增长2%，预期该公司北美业务重心正重新转至批发，春季及夏季的批发订单亦正在逐步改善。该行估计中国市场在2026财年将仅占销售额的13%，较高峰期显著下降，相信在2026财年剩余时间中国业务仍将持续面临销售及利润率压力。
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