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Fly News Breaks for July 28, 2015
NKE
Jul 28, 2015 | 07:25 EDT
Jefferies analyst Edward Plank raised his price target for Nike to $128 to reflect greater likelihood of the Trans-Pacific Partnership becoming law. The elimination of Vietnam import tariffs could benefit Nike's margins by up to 400 basis points over time, Plank tells investors in a research note. The recent granting of fast-track authority to President Obama significantly increases the likelihood of the free trade agreement passing, the analyst writes. He keeps a Buy rating on Nike.
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