JPMorgan Chase & Co. upgraded Nike Inc. to Overweight from Neutral and lifted its 12-month price target to $93, up from $64. The move follows what the bank called extensive fieldwork, meetings with management and a review of Nike’s latest 10-K filing. Analysts said the athletic-apparel maker is at an inflection point, citing recovering gross margins, healthier inventories and a broadened product pipeline. The bank raised its fiscal 2026 and 2027 earnings estimates—its first upward revision in 13 months—and now projects high-teens to 20% annual earnings growth through fiscal 2030. Upcoming events such as the 2026 soccer World Cup are expected to provide additional demand catalysts. Nike shares gained about 4% in pre-market New York trading after the report, extending a recent rebound in the stock.