Morgan Stanley lowered the firm’s price target on Nike (NKE) to $80 from $82 and keeps an Equal Weight rating on the shares ahead of its Q2 results. The firm believes that the company will beat on earnings, but this will be driven by reduced SG&A spending, also noting that the new management will likely guide “below the Street” estimates on sales and margins in hopes of setting a “similarly beatable bar”, the analyst tells investors in a research note. Morgan Stanley adds that it is unlikely that Nike reinstates its previously withdrawn FY guidance, adding that it still “sees risk” to both the Street and the management’s expectations for improvement in the second half of FY25..
Pick the best stocks and maximize your portfolio:
- Discover top-rated stocks from highly ranked analysts with Analyst Top Stocks!
- Easily identify outperforming stocks and invest smarter with Top Smart Score Stocks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on NKE:
- A Dissapointing Week for Dow Jones Industrial Average Puts It in the Red
- Top Analyst Sets the Stage for Nike Stock Ahead of Earnings
- Nike checks show ongoing pressure in Q2, says Raymond James
- Nike downgraded to Negative from Mixed view at OTR Global
- Nike price target lowered to $80 from $82 at Morgan Stanley
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
