Nike price target lowered to $70 from $72 at Morgan Stanley

Morgan Stanley lowered the firm’s price target on Nike (NKE) to $70 from $72 and keeps an Equal Weight rating on the shares. While Nike’s quarterly results came in better-than-expected, the sequentially worsening Q4 guidance and expectations for a trend improvement in the first half of 2026 leaves the firm convicted in its pre-print view that EPS risk likely lingers into FY26, the analyst tells investors in a research note. Management’s initiatives are on the right track, but the road from here is long and volatile, the firm says.