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Nike: Jefferies raises TP after results

( - Jefferies maintains its "buy" rating on Nike shares, having increased its target price for them from $140 to $160, citing higher guidance and margin recovery ahead, a day after the company's quarterly earnings call.

The broker points out that the sporting goods supplier's Q3 revenue came in well above consensus, and believes that " consumer demand remains healthy, driving ample growth potential ahead".

"To this end, margin drivers remain intact, and we expect transitory cost headwinds (~350bps worth) to subside in F'24," it adds.

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