Analyst: Nike Brand Poised for a Comeback

Core Viewpoint - Nike Inc's stock is experiencing a positive shift following an upgrade from Jefferies, indicating a potential turnaround in the company's performance [1][2]. Group 1: Stock Performance - Nike's stock is currently up 2.4% at $78.30 before market opening, following a bullish note from Jefferies [1]. - Year-to-date, Nike's stock has only increased by 1.1$78, which has hindered recovery from a nearly five-year low of $68.62 on February 7 [3]. - The stock is set to open at its highest level since mid-December, reducing its significant year-over-year decline of 27.2$75 to $115, citing a renewed focus on innovation and core strengths [1][2]. - The brokerage believes that Nike can rebalance inventories, enhance wholesale distribution, and drive stronger sales and profits, despite low current market expectations [2]. - Analysts remain cautious, with 17 out of 33 brokerages rating the stock as "hold" or worse, but a sustained price reversal could lead to a reassessment of these ratings [4].