The Globe and Mail reports in its Tuesday, Dec. 12, edition that Citi analyst Paul Lejuez has elevated his recommendation for Nike to "buy" from "neutral." The Globe's David Leeder writes that Mr. Lejuez's share target soared $35 to $135 (all figures U.S.). Analysts on average target the shares at $119.92. Mr. Lejuez calls Nike "an attractive margin recovery story in a choppy macro." Believing the "gross margin recovery story for Nike is compelling," Mr. Lejuez raised his earnings-per-share estimate for its second quarter of fiscal 2024 to 86 cents from 84 cents, which is the current consensus, due to lower expenses. His full-year projection increased by three cents to $3.71, a penny below the Street's expectations. Mr. Lejuez says in a note: "Given the difficult comparisons in the NAM wholesale channel, challenging macro, challenging trends from Nike's key retail partners in NAM and expected strong 2H sales recovery embedded in current guidance, we believe it is likely that management will take a more conservative view toward 2H sales (and lower F24 sales guidance from mid single digits to low single digits). However, we believe stronger GM/tight expense control will protect from an EPS reduction."