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Why Is Nike (NKE) Stock Rocketing Higher Today
Shares of athletic apparel brand Nike (NYSE:NKE) jumped 5.4% in the morning session after Jefferies analysts upgraded the stock's rating from Hold to Buy and raised the price target from $75 to $115. The analysts added "CEO Hill is tackling product and distribution issues head-on, positioning the brand to again outgrow the market and take back lost share. Survey work illustrates NKE's brand remains very strong, proving that issues were self inflicted and competitive threats less severe."