Nike price target raised to $138 from $127 at Morgan Stanley

Morgan Stanley analyst Alex Straton raised the firm’s price target on Nike to $138 from $127 and keeps an Overweight rating on the shares following the company’s "across-the-board beat" in Q2 and "surprise" FY23 guidance raise. Though Nike noted strong sales trends continued into Q3, its revised guidance continues to embed significant second half deceleration and conservatism, Straton tells investors.