Nike's Turnaround Plan Ahead of Schedule: Jim Cramer Defends Elliott Hill

Nike's shares are down 8% over the past year but have risen 15% since mid-December. Despite this, CEO Elliott Hill is expected to execute a turnaround in China, and analyst Needham downgraded the shares to Hold from Buy. RBC Capital cut the share price target to $78 from $85 and kept an Outperform rating. CNBC TV host Jim Cramer continues to defend Hill and believes Nike is ahead of schedule with its turnaround.