Nike: Jefferies still on Hold

(CercleFinance.com) - Jefferies reaffirms its Hold recommendation on the stock, with a price target of $100, following the announcement of its financial results for its third quarter 2023/2024 ended February 29, 2024.


"Many leadership changes have taken place to improve speed/productivity but will take time to bear fruit", the broker says.

The analyst says the company is changing its distribution model to focus more on wholesale, which shows some indecision in strategic direction.

"All in, the good here is NKE sees its own issues, but the bad is it will take time to play out", Jefferies adds.


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