Street View: Nike laces up for a comeback as Wall Street warms to the swoosh

Nike on Thursday forecast a smaller-than-expected decline in its Q1 revenue and announced plans to reduce its reliance on Chinese manufacturing for the U.S. market, aiming to mitigate effects of tariffs

Shares up as much as 10% in premarket trading on Friday

NIKE'S STILL IN THE RACE

JP Morgan("Neutral," PT: $64) says co's solid results in sports category is also a reassuring indicator of overall demand as attention focuses on consumer trends in U.S. market

Barclays ("Equal Weight," PT: $64) says co is facing near-term pressure from excess inventory and restructuring, but sees early signs of recovery through improving wholesale demand and strategic execution

Evercore ISI ("Outperform," PT: $90) says co is managing expectations by highlighting key challenges ahead: digital traffic is set to decline sharply, retro product demand will remain a drag, and China sales are expected to be negative

Morgan Stanley ("Equal Weight," PT: $64) says co is stabilizing with modest estimate upgrades driven by strategic shifts, but long-term growth and margin concerns linger amid weak digital sales and intensifying competition