Jefferies analyst Randal Konik raised his price target for Nike (NKE) to $68 saying the company last night posted a "nice" beat for Q3. Better full-price sell through drove gross margin upside while international growth "remained robust," Konik tells investors in a post-earnings research note partially titled "US Outlook Shows Adidas Reign Over." The analyst believes Nike's North America business is inflecting in Q4, driven by product innovation. Adidas' (ADDYY) share gains are abating and Nike is poised to regain share, Konik contends. However, he keeps a Hold rating on Nike citing the stock's "premium" valuation. He views Footlock (FL) as a better way to play Nike.