Nike Sues Reebok Over Tim Tebow Jerseys

Popular quarterback Tim Tebow, who was just traded to the New York Jets, is already indirectly involved in a lawsuit before the season has started.Sports apparel company Nike (NYSE:NKE) is filing a lawsuit against Reebok over using Tim Tebow’s name on Jets-related apparel without permission. This come just as Nike replaced Reebok on Sunday as the supplier of NFL team uniforms.A temporary retraining order blocking further sales of the merchandise by Reebok was issued and Nike is seeking unspecified damages. NIKE (NYSE:NKE) has potential upside of 9.1% based on a current price of $107.23 and an average consensus analyst price target of $117.