Jefferies analyst Randal Konik raised the firm’s price target on Nike to $120 from $100 and keeps a Hold rating on the shares. According to Jefferies’ digital data panel, interest in sneakers has accelerated into the Holiday season, and the firm is incrementally more positive on demand for athletic footwear/apparel, the analyst tells investors in a research note. Jefferies views Nike as a best-in-class retailer, but believes it is not immune to the category macro headwinds, which could hinder sales and margin expansion.
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