“Nike (NKE)’s Moves in China Will Lead to a Turn,” Says Jim Cramer

We recently published Jim Cramer Discussed These 10 Stocks & Commented On Gold Price.  NIKE, Inc. (NYSE:NKE) is one of the stocks Jim Cramer discussed.

Athletic apparel giant NIKE, Inc. (NYSE:NKE)’s shares are down by 14% over the past year and are flat year-to-date. The company has struggled due to an ongoing turnaround led by CEO Elliott Hill. NIKE, Inc. (NYSE:NKE)’s stature means that it’s a stock that Jim Cramer regularly discusses. Over the course of the past year, the CNBC TV host has defended Hill and urged faith in the CEO. More recently, following NIKE, Inc. (NYSE:NKE)’s latest earnings, Cramer commented that the firm should improve its Chinese operations just as it had turned around its business in the US. NIKE, Inc. (NYSE:NKE)’s China business was also on Needham’s mind after it downgraded the stock to Hold from Buy. Similarly, RBC Capital cut the share price target to $78 from $85 and kept an Outperform rating as it expressed worries about the timeline of the turnaround in NIKE, Inc. (NYSE:NKE)’s profitability. Cramer tweeted about the firm after news broke of a Chinese firm buying a $1.8 billion stake in sports apparel company Puma. He continues to be optimistic about the turnaround in China as he remarked:

"Nike (NKE)’s Moves in China Will Lead to a Turn," Says Jim Cramer

Leonard Zhukovsky / Shutterstock.com

“I think that Nike’s moves in China will lead to a turn. Can’t be how soon. Do know it can happen”

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Disclosure: None. This article is originally published at Insider Monkey.