UPDATE: Morgan Stanley Reiterates Overweight Rating, Removes PT on Nike on Positive Outlook - Nike (NYSE:NKE)

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In a report published Friday, Morgan Stanley analyst Jay Sole reiterated an Overweight rating on Nike (NYSE: NKE), but removed the $85.00 price target.In the report, Morgan Stanley noted, “We reiterate our OW Nike rating. The stock remains our top idea. The 3c 4Q14 beat demonstrated again Nike's ability to deliver in tough environments. FY15 guidance indicates the fundamental story remains intact. We expect the stock to grind higher and outperform Softline peers through CY14.”Nike closed on Thursday at $76.86.

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