Deutsche Bank cuts JD Sports price target, shares slump
By Michele Maatouk
Date: Tuesday 03 Feb 2026
(Sharecast News) - Deutsche Bank cut its price target on JD Sports to 85p from 95p on Tuesday and kept its 'hold' rating as it said the retailer was "running against the trend".
The bank pointed out that JD Sports downgraded expectations for the year ahead again with peak trading, pointing to a subdued 2026 market outlook, now resulting in another year of earnings declines.
It said that beyond the Nike comeback, there are three fashion trends it is watching that suggest potential for ongoing downside risk to JD's demand outlook.
"Female fashion demand is rotating out of the category, we watch for a core male consumer doing something similar noting the recent momentum at Timberland, and we see a risk that popularity of running styles leaves JD with a less differentiated product offer than it once had," the bank said.
"How much subdued demand could correct with a Nike lifestyle comeback remains to be seen, there is also potential for Adidas' push on the 'Superstar' to capture some of the demand that has come out of Nike classics."
DB added: "As of today though, our view is that overall levels of consumer volume demand within the category are challenged."
At 0930 GMT, the shares were down 3.6% at 83.70p.
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