The Globe and Mail reports in its Thursday, Jan. 4, edition that RBC analyst Piral Dadhania has reaffirmed his "outperform" recommendation for Nike. The Globe's Darcy Keith writes that Mr. Dadhania cut his share target for Nike to $120 (U.S.) from $127 (U.S.), believing the company is in store for some near-term sales weakness as it conducts a refresh of its athletic wear products. Analysts on average target the shares at $125.58 (U.S.). Mr. Dadhania says in a note: "We believe Nike's current brand/product cycle is transitioning (having lasted five years) and confirmed by management's signalling of product range rotation (last done in 2017-2018). ... We acknowledge competition is heating up, however, we also view Nike as strong in life cycle management and innovation/newness -- if it can deliver a similarly successful transition to 2017 (which will take few quarters from here), then we believe the setup is arguably more attractive into fiscal 2025. Gross margin recovery thesis remains intact in the meantime." The Globe reported on Dec. 5 that Wells Fargo analyst Ike Boruchow said he preferred Lululemon athletica over Nike. Nike shares were then going for $115.41 (U.S.).