UPDATE: Morgan Stanley Reiterates Overweight Rating, Raises PT on Nike on Major Earnings Growth Acceleration

In a report published Wednesday, Morgan Stanley analyst Jay Sole reiterated an Overweight rating on

, 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.