After Deckers Outdoor’s (DECK) fiscal Q4 results showed that HOKA brand sales missed consensus expectations and growth slowed “again,” Jefferies believes market share shifts will begin to favor Nike (NKE) with the latter stepping up innovation and reintroducing wholesale channels such as Amazon (AMZN). Given that Nike is trading near a 15-year low on an EV-to-sales basis, the firm would continue to buy shares and maintains its Buy rating and $115 price target on Nike.
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Read More on NKE:
- Nike’s Strategic Moves and Growth Potential Make It a Compelling Buy Opportunity
- Nike (NKE) Runs Back to Amazon after Six-Year Break
- Nike (NKE) to Raise Prices on Sneakers and Athletic Wear This Week
- Nike to sell to Amazon.com for first time in six years, The Information says
- Nike to raise prices on footwear and apparel this week, CNBC says
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