In a report published Wednesday, Morgan Stanley analyst Jay Sole reiterated an Overweight rating on Nike NKE, and raised the price target from $85.00 to $88.00.
In the report, Morgan Stanley noted, “Nike's 4Q report indicated the company is experiencing major earnings growth acceleration. We think the trend will continue. Our $4.00 FY2 EPS estimate is 10c above consensus and we have high conviction in this view. We see 13% price target upside and a favorable 2.5:1 risk/reward.”
Nike closed on Tuesday at $78.00.
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