Nike price target raised to $160 from $140 at Jefferies

Jefferies analyst Randal Konik raised the firm’s price target on Nike to $160 from $140 and keeps a Buy rating on the shares after Q3 revenue came in "well ahead" of the consensus forecast, which the firm sees being primarily driven by strong growth in North America, Europe, Middle East & Africa, Asia Pacific and Latin America. The firm believes consumer demand remains healthy, margin drivers remain intact, and it expects transitory cost headwinds to subside in FY24, the analyst tells investors in a post-earnings research note.