Nike price target lowered to $100 from $110 at Jefferies

Jefferies lowered the firm’s price target on Nike to $100 from $110 and keeps a Hold rating on the shares. Nike’s innovation flywheel has slowed and management acknowledged the need to reaccelerate newness, says the analyst, who sees Nike at “a point of transition.” The company is altering its distribution model with some added focus back on wholesale, which “shows some indecision in strategic direction,” added the analyst, who argues that while it is good that Nike “sees its own issues,” the bad is that “it will take time to play out.”