Nike Lures Away UA Designer Of Steph Curry Shoe; Jefferies Sees As Tactical Win

Jefferies' Edward Plank maintained a Buy rating for Nike Inc NKE, with a price target of $76. The analyst views the luring away of a top designer of a rival firm as a tactical win for the company. News reports mentioned that Nike had hired Dave Dombrow, one of the top footwear designers of Under Armour Inc UA. Dombrow was responsible for creating several notable products at Under Armour, including the company's popular Stephen Curry basketball sneaker. "We view this as a tactical win for Nike in what's become an increasingly competitive category," analyst Edward Plank mentioned.