HOLT "Global Stock Highlights from the Week - 26th June 2026" Patel

Research evidence excerpt

HOLT "Global Stock Highlights from the Week - 26th June 2026" Patel

Global Research

26 June 2026ab

HOLT Equities

GlobalGlobal Stock Highlights from the Week - 26th

June 2026 Hiten Patel, CFA, FCA

HOLT Specialist

hiten.j.patel@ubs.com

+44-20-7883 5132

Consumer and Auto Steffen Spillecke, CFA HOLT Sector Specialist

Nike (NKE) announces new CFO; CFROI priced for improvement back to steffen.spillecke@ubs.com

(1) +44-20-7883 6549historical medians

John Talbott, CFA

NKE announced that David Denton will join the company as the new EVP and CFO. The HOLT Sector Specialist

appointment is viewed as supportive of NKE’s ongoing turnaround efforts, including john.talbott@ubs.com

product innovation, resource reallocation, and a renewed focus on growth. CFROI is +1-212-325 1813

forecast to fall further to a 30-year low of 7% in 2026e (click here), driven by continued Brendan Munson

top-line weakness, that has pushed margins to 20-year lows (2026e – 7.6%). The HOLT Sector Specialist

market is currently pricing in an improvement in CFROI longer-term towards 12%, which brendan.munson@ubs.com

is near the firm’s historical CFROI median. Based on IBES consensus estimates through +1-212-325 2784

2028, and assuming margins continue to improve to 11%, the current share price Hock Leng Ng

implies 10% sales growth longer-term (click here). HOLT Sector Specialist

hockleng.ng@ubs.com

H&M shares drop following Q2 sales growth miss despite higher clean +65-6212 3009

(2)

EBIT; priced for CFROI to recover to a 9-year high

The negative market reaction came on the back of a muted current trading, which

reinforces the ongoing concerns about whether the turnaround can translate cost

discipline into sustainable topline growth. Consensus expects CFROI to remain flat in