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Fly News Breaks for March 22, 2019
UA, FL, UAA, NKE
Mar 22, 2019 | 08:37 EDT
Jefferies analyst Randal Konik says Nike (NKE) last night reported a "steady as she goes" quarter with continued market share gains. The analyst, however, keeps a Hold rating on the stock with an $80 price target primarily due to valuation. He prefers shares of Under Armour (UAA, UA) given the "misplaced overly negative sentiment." Konik also views Foot Locker (FL) shares as the best way to play a strengthening Nike business as Nike accounts for 70% of the company's product.