PREVIEW: Nike gains some traction ahead of results due after the close

Shares of Nike NKE.N up 0.8% on Thurs, with the athletic shoe and clothes co seen reporting a decline in yr-over-yr rev and EPS in its quarterly results, due after the closing bell

Analysts on avg expect NKE fiscal Q2 rev of $12.22 bln vs $12.35 bln in the yr-ago qtr and adj EPS of 38 cents vs 78 cents a yr ago, according to LSEG

Jefferies analysts, who have a 'buy' rating on NKE, said in recent note that results should "show NKE building off" fiscal Q1 momentum

"Despite tariff headwinds and clearance selling we model a modest beat vs. Street and expect an F'2H acceleration on easy compares," they wrote

Research recommendations on NKE include 24 "strong buy" or "buy" ratings, 14 "hold" and 2 "sell" ratings, per LSEG

The median 12-mth PT on NKE stock is $84, implying about 27% upside to current levels

With the move on Thurs, stock down ~13% YTD compared with a roughly 12% gain in the Dow Jones industrial average .DJI