Nike Inc's (NYSE:NKE) turnaround strategy under new CEO Elliot Hill is creating short-term challenges but could set the stage for recovery by 2025, Truist said in a note. The company has lowered its guidance for the second half

NIKE stock is down 30% YTD and 56.75% off its all-time high. Check out why I believe NKE is another 2-3 year turnaround story worthy of a “strong buy.”

Nike (NKE) has faced a difficult few years, with its stock dropping 29% year-to-date and more than 50% over the past three years. While Nike has struggled to maintain investor confidence, the athletic footwear and apparel giant is taking steps to reignite growth and recapture market share.