** Shares of Air Jordan maker Nike NKE.N up ~2.03% at $78.05 in premarket trading
** Jefferies upgrades NKE's rating to "buy" from "hold"; raises PT to $115 from $75
** Brokerage says NKE's renewed focus on innovation will balance inventories, boost wholesale distribution and lead to higher sales and profits, especially since market expectations are currently low
** "Elliot Hill is intimately engaged with current and lapsed retail partners and, we think Hill has the right playbook; it worked a decade ago, so it's highly likely to work again," Jefferies says
** Former senior executive Elliot Hill took over as co's CEO in October
** Avg. rating of 39 analysts is "buy"; median PT $90 - data compiled by LSEG
** NKE stock has risen 1.1% so far in 2025
(Reporting by Akriti Shah in Bengaluru)
((akriti.shah@thomsonreuters.com))
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