Slowing sales growth at Deckers Outdoor's (DECK) Hoka brand could help Nike (NKE) regain market share in athletic footwear, Jefferies analysts said.

After the bell Thursday, 澳洲幸运5官方开奖结果体彩网:Deckers reported that Hoka sales increased by 10% year-over-year in its fiscal 2025 fourth quarter. That, Jefferies analysts noted, is down from 24% and 35%, respectively, in the previous two quarters.

That "deceleration reflects the reinvigorated momentum of [Nike's] innovation and wholesale penetration and market share will begin to favor" Nike, Jefferies wrote. The analysts cited Nike's brand awareness, diverse price points, and slate of upcoming partnerships—like its collaboration 澳洲幸运5官方开奖结果体彩网:with Kim Kardashian's SKIMS brand—as potential sales drivers.

Jefferies also recently 澳洲幸运5官方开奖结果体彩网:said Nike stood to benefit from Dick's Sporting Goods' (DKS) 澳洲幸运5官方开奖结果体彩网:acquisition of Foot Locker (FL), as Nike's ✱strong relationship withꦏ each retailer could help sales once they are combined.

Nike shares were down roughly 2% Friday afternoon. Deckers Outdoor shares sank nearly 20% after the company 澳洲幸运5官方开奖结果体彩网:did not issue a fiscal 2026 outlook due to uncertainꦬty around tariffs.

Jefferies has a "buy" rating and a $115 price target—nearly double Thursday's closing price of $61.32—on Nike shares. The Street consensus is around $74, according to Visible Alpha.