** Shares of sportswear major Nike NKE.N fall 1.3% to $44.07 premarket

** RBC Capital Markets downgrades rating to "sector perform" from "outperform," cuts PT to $50 from $70

** Says, "Nike turnaround under Elliott Hill is making progress, but slower and narrower than we were anticipating"

** Adds, FIFA soccer World Cup, ongoing clean-up efforts and a lack of growth drivers are unlikely to drive a sustained improvement in revenue trends through the rest of 2026, leaving limited near-term upside

** 18 of 41 brokerages rate NKE "buy" or higher, 21 "hold" and 2 "sell"; median PT $56 - LSEG-compiled data

** YTD, as of last close, NKE down about 30% vs broader S&P 500 index's .SPX 7.9% rise