BofA Securities analyst Lorraine Hutchinson reiterated the Buy rating on the shares of Nike Inc (NYSE:NKE) with a price forecast of $90.00. Nike’s management is taking swift action to adjust the market and clear out old inventory,

Nike is scheduled to report earnings after the bell Thursday with the athletic apparel giant expected to post declining sales.

Earnings per share are estimated to decrease to $0.29 and gross margin is forecast to fall to 41.9% of sales. Nike ( NYSE: NKE) has been focusing on strategic initiatives, including increased marketing efforts targeting women and collaborations like the one with Kim Kardashian's SKIMS.

Retail chatter around Nike Inc (NKE) has shot up in recent days, ahead of the company’s quarterly report later this week which will give clues on an ongoing turnaround effort. User posts on Stocktwits about Nike have increased by 339% in the past week alone.