10:41 AM EDT, 03/27/2026 (MT Newswires) -- Nike's ( NKE ) fiscal Q3 results are likely to reflect further success in its strategic turnaround efforts, Oppenheimer said in a Friday research note.

The company is due to report fiscal Q3 results on March 31. The brokerage said it now expects fiscal Q3 and 2026 earnings of $0.25 and $1.55, respectively, compared with $0.50 and $1.72 earlier.

Downbeat market sentiment embedded within the stock should lend to favorable re-rating as fundamental trends regain momentum, analysts wrote.

Oppenheimer said it is optimistic that company earnings are positioned to inflect positively in the near future as repositioning efforts take hold and transitory pressures decline.

Management sees China repositioning as the next major project, but a successful turnaround in China will take time, according to the note.

The brokerage maintained its outperform rating on the stock and price target of $120 per share.

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