UPDATE: Jefferies & Company Reiterates Buy Rating, Lowers PT for Nike

In a report published earlier today, Jefferies & Company, Inc. reiterated its Buy rating for Nike, Inc.

, but lowered its price target from $130.00 to $115.00. Jefferies went on to say “We think a toppy sales environment, China angst and FX headwinds make NKE vulnerable ahead of Thursday's F4Q report. The stock has corrected some but still has near-term risk, in our opinion, as investors demonstrate a greater sensitivity to negative news than positive in this environment. Would use near-term weakness to accumulate given strong product innovation, geographic distribution opportunities and best-in-class business model.” Nike, Inc. closed on Friday at $98.66.