Morgan Stanley raised the firm’s price target on Nike (NKE) to $70 from $64 and keeps an Equal Weight rating on the shares. While the firm expects Q1 EPS to come in about in-line with consensus, it continues to think second half and FY26 Street estimates are too high. The firm thinks Nike’s “poor fundamentals continue to get some degree of a pass” in the near-term, but it has “grown incrementally negative,” citing less constructive recent channel checks and what it views as a still-elevated valuation, the analyst tells investors in a fiscal Q1 preview.
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