Nike price target raised to $111 from $107 at Truist

Truist raised the firm’s price target on Nike to $111 from $107 but keeps a Hold rating on the shares. The firm is updating its model on expectation that the company will be able to more nimbly manage costs in the lower growth environment. Truist adds however that while it is more optimistic on Nike’s profitability, it maintains its view that investors will wait for more concrete evidence of top line acceleration before getting more bullish.