Morgan Stanley keeps an Equal Weight rating and $82 price target on Nike after its Q1 results. The earnings beat was overshadowed by a worse-than-expected Q2 outlook and withdrawn FY25 guide, while moderating demand trends vs. three months ago, rising inventory levels, and promotional risk give bears “more to lean on”, the analyst tells investors in a research note.
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 lowered to $96 from $100 at Telsey Advisory
- Jefferies says ‘don’t chase’ Nike, deck ‘no where near being cleared’
- Notable open interest changes for October 2nd
- Morning Movers: Humana plummets following reductions in Star ratings
- Nike price target lowered to $105 from $110 at Evercore ISI