Nike Inc’s (NYSE:NKE) first-quarter results indicate improving trends from the “Win Now” strategy.
The apparel company appears better positioned for a return to sustainable growth and margin recovery, according to KeyBanc Capital Markets’ Ashley Owens.
The Nike Analyst: Owens upgraded the rating from Sector Weight to Overweight, while establishing a price target of $90.
The Nike Thesis: The company’s revenue grew 1.1% year-over-year to $11.7 billion, and earnings came in at 49 cents per share, beating Street expectations of $10.99 billion and 27 cents per share, respectively, Owens …