1312 ET - Jefferies pounds the table again today on Nike, with analyst Randal Konik on a call with investors saying he's "massively bullish" on the stock. Jefferies earlier this week upgraded Nike to buy from hold and upped the price target to $115 from $75. Konik says he was very negative on Nike over the past two years because of market share losses and categories slowing that put earnings at risk. Konik says Nike's former CEO John Donahoe was the wrong leader for the sportswear brand given his background at eBay. Meanwhile, current CEO Elliott Hill knows that Nike has to improve product and balance distribution, Konik says. "If Walmart can double in 2 years, why can't Nike?," Konik adds. Nike shares are down 2% to $78.50. (sabela.ojea@wsj.com; @sabelaojeaguix)
(END) Dow Jones Newswires
February 28, 2025 13:13 ET (18:13 GMT)
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