Nike (NKE) recently released a strong financial report for 2QFY16. According to the report, revenue rose 12% y-o-y (taking into account currency fluctuations). Moreover, the company's global orders increased 15% (20% taking into account currency fluctuations). Chinese orders spiked 31% (+34% taking into account currency fluctuations). To remind, investors always pay attention to the orders, because they are good proxies for future sales. Adjusted EPS was up 22% y-o-y to 90 cents, considerably outpacing the consensus of 86 cents. In the reporting quarter, the company bought back 5.6 mn shares worth USD 652 mn as part of a four-year buyback program totaling USD 8 bn approved by Nike’s management in September 2012. By the end of the reporting quarter, as part of the program implementation, Nike bought back 92 mln shares worth USD 7.2 bn. In addition, the company recently approved a new buyback program totaling USD 12 bn. The company also raised quarterly dividend to 16 cents (+14% q-o-q), yielding 1.0%. I believe that the company will continue to improve its financial performance in the mid-term. This factor, coupled with the share buyback and higher dividend, will boost Nike’s shares. I left target price for Nike (NKE) unchanged at USD 70 and reiterate a Buy recommendation in the mid-term. The short-term technical target is USD 63.