Jefferies Sees Nike Turnaround on Tap Ahead of Earnings Release

Nike's stock is seeing renewed optimism from Wall Street brokerage Jefferies Financial Group. Analyst Randal Konik maintains a Buy rating on NKE stock, with a price target of $75 - more than double its current value.

The recommendation comes ahead of Nike's upcoming financial results, set to be released on October 1st. Konik forecasts earnings of $0.48 per share and sales of $11.5 billion from the athletic apparel maker.

Nike has struggled in recent quarters due to a notable slowdown in its sales across mainland China and U.S. tariffs. However, Konik expects the company's pending financial results to show stabilization and improvement in both North American and wholesale markets.