Analysts everywhere are revisiting their recommendations following Tuesday’s surprise election victory by Donald Trump. Based on statements by Trump when he was campaigning, there probably are a few general lessons investors could draw.

First, less regulation of nearly everything from oil to guns. Second, a Trump administration is highly likely to revisit trade agreements like NAFTA and similar bilateral deals. Some observers have even wondered about the likelihood of a recession, which might help some companies and hurt others.

Analysts at Wedbush have published an “early list” of equities the firm believes could receive either good news or bad news from last night’s election results.

Dow 30 component Nike Inc. (NYSE: NKE) is one of the most prominent on the Wedbush list. Here’s what the analysts have to say about the athletic gear maker:

We believe Nike (NKE) could be impacted due to how and where it sources product and to a lesser degree its international sales exposure. As of the last fiscal year, NKE sourced ~90% of its footwear production from Vietnam, China and Indonesia and ~60% of its apparel production from China, Vietnam and Indonesia. Any changes to current trade deals could have an impact on how and where NKE sources its products and the cost to do so. NKE generates just over half of its sales from outside the US. While hard to determine, any impact within key markets across Europe, Latin American and China would affect NKE as well.

On the plus side of the ledger, discount clothing retailers The TJX Companies Inc. (NYSE: TJX) and Ross Stores Inc. (NASDAQ: ROST) could see a boost in their businesses, according to Wedbush:

We believe discount stores should outperform the balance of retail in an uncertain environment for equities, and should also be more resilient to any slowdown in consumer spending. Earnings estimates are less likely to shift meaningfully, even in a worst case economic scenario.

Nike stock traded down about 0.9% in the noon hour Wednesday, at $50.63 in a 52-week range of $49.01 to $68.19. The consensus 12-month price target on the stock is $63.05.

Shares of TJX traded up 0.3%, at $73.41 in a 52-week range of $63.53 to $83.64, and the consensus target on the stock is $83.82.

Ross Stores traded down 0.4%, at $62.59 in a 52-week range of $43.47 to $66.28. The stock’s 12-month price target is $66.27.

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