economy
March 11, 2026
Nike lands an 'unconventional upgrade' from Wall Street. Why we're still believers too
Jim Cramer says Nike is still worth owning because CEO Elliott Hill's turnaround efforts have shown signs of progress.
TL;DR
- Jim Cramer still considers Nike a worthwhile investment despite its recent stock underperformance.
- Barclays analysts upgraded Nike to a buy-equivalent rating, citing a shift to a favorable risk-reward profile and raising the price target.
- CEO Elliott Hill's efforts to improve performance and clean up inventory in North America are seen as positive steps.
- Challenges include rising competition from brands like Hoka, On, New Balance, and Adidas, as well as issues in the China market.
- Declining sales in China have significantly impacted Nike's performance, leading Wells Fargo to remove Nike from its 'top picks'.
- Nike insiders, including Apple CEO Tim Cook, have purchased stock, indicating confidence in a comeback.
- Nike is scheduled to release its next quarterly earnings report on March 31.
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