“Nike (NKE) is Ahead of Schedule,” Says Jim Cramer

Core Viewpoint - NIKE, Inc. (NYSE:NKE) is currently facing challenges in convincing the market of its turnaround strategy, with shares down 8% over the past year, but have seen a 15% increase since mid-December [2]. Group 1: Stock Performance - NIKE's shares have decreased by 8% over the past year, indicating struggles in market confidence regarding its turnaround efforts [2]. - Since mid-December, the stock has rebounded by 15%, suggesting a potential shift in investor sentiment [2]. Group 2: Analyst Opinions - Analysts have mixed views on NIKE's future, with Needham downgrading the stock from Buy to Hold due to uncertainties in the recovery timeline in China [2]. - RBC Capital has reduced its price target for NIKE from $85 to $78 while maintaining an Outperform rating, highlighting concerns over the timeline for profitability during the turnaround [2]. Group 3: Management and Strategy - Jim Cramer continues to support CEO Elliott Hill, asserting that he is the right leader to execute the turnaround, particularly in the Chinese market [2][3]. - Cramer believes that NIKE is ahead of schedule in its recovery efforts, despite some analysts suggesting delays [3].