Morgan Stanley lowered the firm’s price target on Nike (NKE) to $72 from $74 and keeps an Equal Weight rating on the shares. The firm sees room for Q3 EPS upside and for Q4 EPS guidance to be set in-line-to-above the Street, which it calls a “nice” near-term set-up, but also one that appears reflected in the stock’s year-to-date outperformance. However, in the firm’s fiscal Q3 preview the analyst cautions risk to FY26 numbers and a “still-high valuation” as cooling this near-term optimism.
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