Nike Needs A Turnaround After Q2 Results Are Released This Week: Will New CEO 'Just Do It?'

Core Viewpoint - Analysts are closely monitoring Nike, Inc. ahead of its second-quarter financial report, particularly focusing on the new CEO Elliot Hill and his strategies for the brand [1] Group 1: Analyst Expectations - Telsey Advisory Group analyst Cristina Fernandez is interested in Nike's product innovation pipeline and changes in its distribution strategy, including a return to wholesale partners [2] - Fernandez believes that the Nike brand is likely to experience a turnaround in the next year due to Hill's changes and brand innovations [3] - Overall, Fernandez notes that Nike is in a transition period and a return to growth may take a few quarters, maintaining an Outperform rating but lowering the price target from $96 to $93 [4] Group 2: Growth Projections - Deutsche Bank analyst Krisztina Katai anticipates that negative earnings revisions for Nike will end in fiscal 2025, with a return to growth expected in fiscal 2026 [5] - Katai is encouraged by new product launches, including a new road running footwear line, and the company's wholesale rebuild, maintaining a Buy rating while lowering the price target from $92 to $82 [6] Group 3: Additional Analyst Ratings - Evercore ISI Group analyst Michael Binetti maintains an Outperform rating and lowers the price target from $105 to $97 [7] - Wells Fargo analyst Ike Boruchow maintains an Overweight rating and lowers the price target from $95 to $92 [7] Group 4: Upcoming Financial Report - Nike is set to report its second-quarter financial results after Thursday's closing bell, with consensus estimates predicting earnings of 64 cents per share on revenue of $12.175 billion [8]