Nike: Jefferies upgrades stock

(CercleFinance.com) - Jefferies upgraded its rating on Nike shares to "buy" (vs.
"hold"), having increased its corresponding target price to 192 dollars (from 140 dollars previously), saying it is "increasingly confident in the med-term growth and profitability trajectory".

The broker says that this is underpinned by "1) Fav. industry backdrop, 2) Ongoing success of the modern digitally-enabled customer-led strategy, and 3) Shift to higher growth and margin channels & regions".

"Our new $192 PT represents ~40% upside as we anticipate a period of sustained earnings momentum with potential upside," the broker added.



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