Jefferies reiterated a Buy rating and $115 price target on Nike (NKE), noting that recently Nike has been featured in the Amazon App (AMZN), along with its dedicated shopping page. The firm believes the partnership between the two companies reinforces the Nike brand’s ubiquity and large total addressable market. As Nike rebalances wholesale distribution and inventories normalize, Jefferies believes last quarter market the bottom and remains an aggressive buyer of the shares at these levels.
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