Nike price target lowered to $61 from $70 at Morgan Stanley

Morgan Stanley lowered the firm’s price target on Nike (NKE) to $61 from $70 and keeps an Equal Weight rating on the shares. The firm sees room for Q4 EPS upside, but cautions it also believes the Street FY26 EPS consensus is “too high.” Estimates that are too high plus a lack of positive demand and innovation feedback from the channel leaves the firm “slightly more negative on our Equal-weight rating,” though “seemingly bearish sentiment may mean any bright spots are rewarded,” the analyst tells investors in a preview.