NEW YORK (TheStreet) -- Nike (NKE) - Get Report stock closed up by 1% to $129.80 on Monday, after its price target was increased to $132 from $123 at Canaccord Genuity ahead of the company's fiscal 2016 second quarter financial report, due out after the market close on Tuesday.

The firm maintained its "hold" rating on the stock.

Nike is expected to report "solid" results tomorrow due to strong performance from sportswear brands like Roshe, Huarache and Tech Pack, e-commerce, and North American and Western Europe sales, Canaccord Genuity said in an analyst note this morning.

Overall, analysts are expecting earnings of 86 cents per share, surpassing last year's earnings of 74 cents per share, and a 5.8% year-over-year increase in revenue to $7.81 billion for the latest quarter.

Nike's earnings could beat estimates by as much as 5 cents per share, while revenue could grow up to 9%, Canaccord Genuity analysts added.

Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author. TheStreet Ratings has this to say about the recommendation:

We rate NIKE INC as a Buy with a ratings score of A+. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its solid stock price performance, impressive record of earnings per share growth, compelling growth in net income, revenue growth and largely solid financial position with reasonable debt levels by most measures. We feel its strengths outweigh the fact that the company shows weak operating cash flow.

Highlights from the analysis by TheStreet Ratings Team goes as follows:

  • Investors have apparently begun to recognize positive factors similar to those we have mentioned in this report, including earnings growth. This has helped drive up the company's shares by a sharp 37.79% over the past year, a rise that has exceeded that of the S&P 500 Index. Regarding the stock's future course, although almost any stock can fall in a broad market decline, NKE should continue to move higher despite the fact that it has already enjoyed a very nice gain in the past year.
  • NIKE INC has improved earnings per share by 22.9% in the most recent quarter compared to the same quarter a year ago. The company has demonstrated a pattern of positive earnings per share growth over the past two years. We feel that this trend should continue. During the past fiscal year, NIKE INC increased its bottom line by earning $3.70 versus $2.98 in the prior year. This year, the market expects an improvement in earnings ($4.30 versus $3.70).
  • The net income growth from the same quarter one year ago has greatly exceeded that of the S&P 500, but is less than that of the Textiles, Apparel & Luxury Goods industry average. The net income increased by 22.6% when compared to the same quarter one year prior, going from $962.00 million to $1,179.00 million.
  • NKE's revenue growth trails the industry average of 16.7%. Since the same quarter one year prior, revenues slightly increased by 5.4%. Growth in the company's revenue appears to have helped boost the earnings per share.
  • NKE's debt-to-equity ratio is very low at 0.09 and is currently below that of the industry average, implying that there has been very successful management of debt levels. To add to this, NKE has a quick ratio of 1.69, which demonstrates the ability of the company to cover short-term liquidity needs.
  • You can view the full analysis from the report here: NKE