Morgan Stanley Reiterates Equal-Weight Rating on Nike

In a report published Monday, Morgan Stanley reiterated its Equal-Weight rating on Nike

. Morgan Stanley noted, “Investors eyeing inflections in GMs and China futures during 2Q could be disappointed, as we believe both are more CY2013 events. Valuation has returned to historic norms and EPS estimates are unlikely to move substantially, so we would not expect too large of a stock reaction and remain EW.” Nike closed on Friday at $96.91.