JPMorgan analyst Matthew Boss raised his December 2019 price target for Nike shares to $81 from $76, telling investors in a research note that he sees a risk of back-end loaded five-year algorithm with near-term top-line growth masked by North America disruption with Nike's planned shift to 80% differentiated retail, which he calls "a significant undertaking." Additionally, he believes the industry shift from performance to lifestyle has reduced barriers to entry and elevated competition in the athletic space. Boss maintains a Neutral rating, saying he is seeking increased visibility on Nike's mid-teens EPS growth algorithm to turn more constructive.