Wells Fargo sees a better setup for Nike going forward. The bank upgraded the sportswear stock to overweight from equal weight. Analyst Ike Boruchow also lifted his price target to $75 from $60, implying a gain of 17% from Wednesday's close. Boruchow pointed to improve visibility in Nike's profits and losses, where numbers appear to be bottoming. He raised his earnings forecast for the fiscal years 2026 and 2027. NKE YTD mountain NKE YTD chart "NKE has been in a negative revision cycle for 3+ years, and we see that reversing over the next 6-9 months," he wrote. "We can finally begin to map out realistic 'return to growth' forecasts, while sizable margin levers likewise take hold. Said differently, NKE has the potential to exit FY26 growing revs +3-4% with [gross margins] expanding +200bps.

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