Nike price target raised to $64 from $61 at Morgan Stanley

Morgan Stanley raised the firm’s price target on Nike (NKE) to $64 from $61 and keeps an Equal Weight rating on the shares. While the firm continues to believe Nike still has “a long road ahead on its turnaround,” management seemingly set “appropriately low expectations” for both Q1 and FY26, which the firm calls a “refreshing change from the prior two years” that leaves it more positive exiting the fiscal Q4 report.