After Nike Inc. (NYSE: NKE) released fiscal first-quarter financial results after markets closed Tuesday, investors and analysts alike chased shares to all-time highs. What stands out with this quarter is that many thought Nike would be weak, considering the trade war with China, but really Nike had a very strong flex.

24/7 Wall St. has included some brief highlights from the report, as well as what analysts are saying about Nike afterward.

The apparel giant said that it had $0.86 in earnings per share (EPS) and $10.7 billion in revenue, compared with consensus estimates that called for $0.70 in EPS and $10.44 billion in revenue. The same period of last year reportedly had $0.67 in EPS and $9.95 billion in revenue.

In terms of the revenue breakdown, Nike brand revenues increased 10% to $10.1 billion on a currency neutral basis, driven by growth across NIKE Direct and wholesale, key categories including Sportswear and the Jordan Brand, and continued growth across footwear and apparel.

Revenues for the Converse segment were up 8% at $555 million, mainly driven by double-digit growth in Asia and through digital globally, which was partially offset by declines in the United States.

Wedbush reiterated an Outperform rating and raised its price target to $100 from $96, implying an upside of 14.7% from the most recent closing price of $87.18. Wedbush further detailed in its report:

While the second quarter outlook came in below expectations (as is typical), there remains numerous areas of upside opportunity to both the second quarter and incrementally stronger fiscal 2020 outlooks, including: Nike App initiatives, Nike Fit, RFID and other productivity strategies, clean/seasonable inventory, a robust product pipeline, and more. In the end, Nike continues to expand the market and drive consumer industry innovation as there is upside to its currency neutral sales outlook (and gross margin) that already likely strengthened by up to several hundred basis points, with fiscal 2020 EPS likely to move higher as well.

Here’s what a few other analysts had to say about Nike after the call:

• Guggenheim reiterated a Buy rating and raised its target to $110 from $100.
• Everycore ISI reiterated an Outperform rating.
• UBS reiterated a Neutral rating and raised its price target to $95 from $87.
• Piper Jaffray reiterated it as Overweight and raised its price target to $101 from $97.
• Pivotal Research reiterated a Buy rating and raised its target from $101 to $104.
• Goldman Sachs reiterated a Neutral rating with a $95 price target.
• Needham reiterated a Buy rating and raised its target price to $98 from $92.
• Wells Fargo reiterated a Market Perform rating and raised its target to $91 from $85.
• Stifel reiterated a Buy rating and raised its price target from $96 to $106.
• Credit Suisse reiterated an Outperform rating and raised its target to $105 from $97.
• Deutsche Bank reiterated a Buy rating and raised its price target to $105 from $100.
• Jefferies reiterated a Hold rating and raised its price target to $97 from $80.

Shares of Nike traded up about 4% to $90.98 on Wednesday, in a 52-week range of $66.53 to $92.79. The consensus price target is $93.76.

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