Morgan Stanley Downgrades Nike to Equal-Weight, Lowers Price Target to $79
Portfolio Pulse from Benzinga Newsdesk
Morgan Stanley has downgraded Nike (NYSE:NKE) from Overweight to Equal-Weight and lowered its price target from $114 to $79.
June 28, 2024 | 9:30 am
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Morgan Stanley analyst Alex Straton has downgraded Nike from Overweight to Equal-Weight and reduced the price target from $114 to $79.
The downgrade from Overweight to Equal-Weight and the significant reduction in the price target from $114 to $79 by a major financial institution like Morgan Stanley is likely to negatively impact Nike's stock price in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100