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

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

At least ten brokerages raise PT; Stock up 10% premarket on Friday

Shares of sportswear peers Deckers DECK.N, On Holding 49G.BN, <ONON.N> up about 2%, Lululemon LULU.O, VF Corp VFC.N up about 1% premarket

NIKE'S STILL IN THE RACE

HSBC (upgrade to "buy," PT: $80) says Nike is "a battered leader with a convincing reboot"; sees co having a path to see sales rebound and margin repair in not-too-distant future, despite tariff headwind

BMO ("Outperform," PT:$92) says Nike "still dwarfs the competition, which we continue to see as long term competitive advantage"

Barclays ("Equal Weight," PT: $64) sees early recovery signs through improving wholesale demand strategic execution even as co faces near-term pressure from excess inventory, restructuring

Evercore ISI ("Outperform," PT: $90) says co is managing expectations by highlighting challenges ahead: digital traffic set to decline sharply, downbeat retro product demand, expected negative sales in China

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