Nike (NKE) stock jumped more than 5% after Jefferies (JEF) gave the company a rave review, saying that CEO Elliott Hill is tackling production and distribution head-on and that it expects a “V-shaped” rebound in profit margin and earnings per share in the 2027 financial year.

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Nike (NKE) had a really rough 2024: sales fell around the world, shares dropped 60% from a 2021 high point, and the company’s relationship with major retailers was damaged. Now, as it’s trying to stage a rebound, Nike is working with Kim Kardashian on a new brand of athletic wear.

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