Nike (NYSE:NKE) saw a rough day as its shares dropped 20% following disappointing fiscal fourth quarter results. The company's outlook for FY25 includes a high-single-digit revenue decline, largely due to macro headwinds and ongoing weakness in China. Despite these challenges, top Wall Street analyst Brian Nagel remains optimistic about Nike's long-term prospects, citing management's strategic efforts to reposition the company globally. Nagel still rates Nike as an Outperform, with a $120 price target, predicting a 59% rebound over the next year. While Nagel's colleagues are divided on their recommendations, the stock holds a Moderate Buy consensus rating. Despite the current setbacks, Nagel believes that Nike's recent performance may be a "last bad" quarter, setting the stage for a healthier recovery in the future.