Morgan Stanley analyst Alex Straton raised the firm’s price target on Nike (NKE) to $72 from $70 and keeps an Equal Weight rating on the shares. A Q1 beat “across-the-board” suggests Nike’s turnaround is “mostly on track,” says the analyst. While the firm recognizes the positive near-term rate-of-change story, it sees this being balanced by its “still-skeptical” medium and long-term view, the analyst tells investors.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on NKE:
- Nike price target raised to $100 from $93 at JPMorgan
- Nike price target raised to $84 from $80 at Piper Sandler
- Nike price target raised to $68 from $64 at Stifel
- Nike’s Hold Rating: Balancing Strong Performance with Valuation Concerns
- Nike’s Positive Turnaround and Growth Prospects Support Buy Rating