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Fly News Breaks for September 26, 2018
FL, NKE
Sep 26, 2018 | 08:21 EDT
Jefferies analyst Randal Konik attributes the post-earnings pullback in shares of Nike (NKE) to high expectations and a "light" Q2 revenue guidance. However, momentum in North America and the favorable direct-to-consumer shift "creates a nice set-up ahead," Konik tells investors in a research note. The analyst raised his price target for the shares to $80 from $75 but keeps a Hold rating on Nike. He views the current valuation as elevated and prefers playing the athletic space via Foot Locker (FL).
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