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Morgan Stanley: Nike Scores On World Cup Sales

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Morgan Stanley analyst Jay Sole reported that Nike's (NYSE: NKE) solid fourth quarter results are likely to continue.

Sole commented on the company's "major" EPS growth acceleration and expects this trend to continue. The analyst added that the World Cup is a sales growth catalyst for Nike.

Nike "dominates" the industry, according to Morgan Stanley. When comparing Nike sales online versus its retail partners, Sole remarked that it is "not an either/or question." Morgan Stanley noted that the company prefers its own store, website and retail partners.

The analyst further noted that the Chinese market is improving, with futures improving faster than expected.

Morgan Stanley rates Nike as Overweight with an $88.00 price target.

Latest Ratings for NKE

DateFirmActionFromTo
Apr 2017ArgusDowngradesBuyHold
Jan 2017Atlantic EquitiesInitiates Coverage OnOverweight
Jan 2017CLSAInitiates Coverage OnUnderperform

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