Selected Stock Price Target News — July 1, 2026

Three stocks drew most of the analyst activity on July 1. The calls went three different ways. Nike (NKE) beat its quarter and still had its targets cut. Dow (DOW) took a 45% target cut from a firm that had been a bull. Illumina (ILMN) picked up its second $200 target of the week. Each one below comes with the reason behind it and the record of the analyst who made the call.

Nike Beat the Quarter. The Target Cuts Came Anyway.

Nike designs and sells athletic footwear and apparel worldwide. Nike reported fiscal fourth-quarter earnings of 20 cents a share after the close on June 30. That beat the 12 cents Wall Street expected by eight cents. Revenue came in at about $10.97 billion. Its analysts spent the next morning cutting their price targets anyway.

The beat came against a bar Nike had set low. Management had guided the Street to a soft quarter. Executives called it the low point of the “Win Now” turnaround run by chief executive Elliott Hill. A one-time tariff refund added about 980 basis points to gross margin. The reported profit ran ahead of the underlying business.

A Turnaround Behind Schedule

The turnaround is behind schedule. Hill took over from John Donahoe in October 2024. He has spent his tenure undoing Donahoe’s direct-to-consumer push. That push had pulled Nike away from the wholesale partners it now needs. Rebuilding those accounts takes time. Direct sales are still falling faster than the company can shift inventory back onto other retailers’ shelves. Greater China, once the growth engine, dropped another 12% to $1.3 billion. Hill told investors the comeback is “taking longer than hoped.” The results, he said, “aren’t there yet.” Analysts trimmed their estimates for the coming year anyway.

The cuts came across the board. Barclays’ Adrienne Yih held an Overweight but dropped her target to $52 from $67. She has reached 62.81% of her past targets. Bank of America’s Lorraine Hutchinson went to $47 from $55 at Neutral. At 68.93%, she has the best record of the analysts who moved. Wells Fargo’s Ike Boruchow set the day’s low at $40, at Equal-Weight. Half a dozen more firms landed near $45. AnaChart’s consensus, $57.52 and falling for weeks, dropped again. Only a couple of holdouts still sit above it.

Hutchinson, the most accurate of the group, sits at Neutral. Yih still rates Nike Overweight, yet she just cut $15 off her target. The argument on Nike now is how much lower it goes.

RBC Slashes Its Dow Target as the Whole Chemicals Group Gets Marked Down

RBC Capital’s Arun Viswanathan cut his Dow target to $28 from $51 on July 1. That’s a 45% reduction. He also pulled his rating to Sector Perform from Outperform. Until that morning he had been one of the stock’s bulls.

Dow makes commodity plastics, ethylene and polyethylene, the feedstock behind packaging, pipes, and car parts. Dow posted first-quarter revenue of $9.8 billion. It reported a net loss of $0.14 a share. Its profit depends on one spread. Cheap U.S. natural gas goes in; the global price of plastic comes out. That spread is narrowing from both ends. Chinese producers keep starting up new plants. Coal-to-olefins capacity adds still more. The oversupply that was supposed to ease has not. Lower oil prices make it worse. They cut into the cost advantage U.S. gas-based producers hold over oil-fed rivals abroad.

Viswanathan’s main point: Dow’s strong second quarter was temporary. It was a lift from Middle East supply disruptions after the Iran conflict, not real demand, and it fades from here. Hopes that high-cost plants in Europe and Asia would shut and drain the glut have not played out either. He now models Dow earning $5.3 billion next year, down from the $6 billion he had before. The company is also spending roughly $7.5 billion on an Alberta cracker. By RBC’s math, that project will consume most of its free cash flow through 2030 to build ethylene into a market that already has too much of it. The spending also hangs over Dow’s dividend, one of the higher yields in the S&P 500. Management has so far kept it intact.

Other Firms Weigh In

RBC was not alone. Mizuho’s John Roberts cut Dow to $35 from $43 the same morning and kept a Neutral. That move was part of a sweep that re-rated more than a dozen chemical and materials names for lower multiples. Bank of America’s Matthew DeYoe had already gone to $29 at an Underperform on June 30. Citi’s Patrick Cunningham, still at Buy, had trimmed to $35 the week before. AnaChart’s 19 analysts now average $38 on the stock. Viswanathan’s $28 sits near the bottom; a single $53 remains at the top.

The records point the same way. Viswanathan, right on 58.27% of his targets, just left the bull case. Roberts, a little more accurate at 65.95% over 1,451 calls, stayed Neutral. Cunningham holds the only Buy left, and he already cut his number. Both analysts who moved on July 1 chose caution.

Illumina Collects a Second $200 Target in Three Days as the Defection Fears Fade

Piper Sandler’s David Westenberg raised his Illumina target to $200 from $170 on July 1. He stayed Overweight, matching the highest number on the Street. Guggenheim’s Subbu Nambi had reached the same $200 two days earlier. Both sit well above the $144.74 consensus AnaChart tracks.

Illumina makes the machines and chemistry that sequence DNA. The company posted first-quarter revenue of $1.09 billion, up 4.8% year over year, with non-GAAP earnings of $1.15 a share. For two years, two fears defined the stock. One: its purchase of the cancer-test maker Grail had wrecked the balance sheet. Two: big customers would defect to cheaper rival sequencers. Grail has since been spun off. The defection fear is the one that just broke.

Casey Woodring at JPMorgan upgraded the stock to Overweight on June 10. He lifted his target to $185 from $125. He had surveyed 62 research and clinical labs. They showed customers committed to Illumina’s ecosystem, with sequencing budgets set to accelerate through 2027 and 2028. The other support is NovaSeq X, Illumina’s high-throughput sequencer, now installed across most of its large accounts. It lowers the price per read but sells more consumables, the reagents labs buy for every run. That more than covers the price cut. That model, cheap machines and steady reagent sales, built Illumina’s dominance in sequencing. Illumina raised its 2026 outlook and expanded its buyback as the machine rolled out.

Where The Lone Holdout Stands

Westenberg, who has met 66.2% of his targets, is the latest of several bulls to move up. His and Nambi’s are the two $200s, with Woodring’s $185 upgrade close behind. The one holdout is Barclays’ Luke Sergott, who kept an Underweight on June 24, though even he raised his target, to $145 from $122.

Sergott has the only Underweight left. His concerns: how fast China’s labs come back, whether research funding recovers, and whether the $350 million SomaLogic proteomics deal starts to pay off. The range AnaChart tracks still runs from the low $80s to $200. The disagreement is real. But nearly every recent call has moved higher. Even the last bear raised his number this month.

The calls above run through BTIG, Baird, Barclays, B of A Securities, Wells Fargo, Piper Sandler, Stifel, UBS, Deutsche Bank, Oppenheimer, Mizuho, RBC Capital, Citigroup, Guggenheim, and JP Morgan. Every one of those price targets and ratings sits in AnaChart’s record. The dataset runs to 661,383 price targets and 759,654 ratings from 7,191 analysts, 3,754 active and 3,437 retired, at 424 brokers. It covers 9,686 tickers, 6,851 listed and 2,835 delisted, across 18 years. You can work through the same numbers in the analyst price target dataset.