** Nike NKE.N shares up 2.5% on Thurs and bucking the trend in the broader market after Wells Fargo turns bullish

** Wells Fargo upgraded NKE to 'overweight' from 'equal weight' and increased its PT on the stock to $75 from $60

** The median 12-mo PT on NKE is $84; the stock was last at $65.79

** Overall analyst recommendations on the stock include 23 "strong buy" or "buy" ratings, 15 "hold" ratings and 2 "sell" ratings, per LSEG

** Wells Fargo cited improving visibility for NKE, and said that Nike's negative estimate revision cycle from the past three years will reverse in the next six to nine mos, according to reports

** On September 30, Nike reported a surprise rise in Q1 rev and beat profit expectations as its turnaround effort gained traction

** NKE is up for a third session in a row but remains down about 13% YTD

** The S&P 500 .SPX was last down 1.7% on Thurs

(Reporting by Caroline Valetkevitch )

((caroline.valetkevitch@tr.com))