Nike (NKE) PT Raised to $118 at Morgan Stanley on Calendar Roll

Morgan Stanley analyst Kimberly Greenberger raised the price target on Nike (NYSE: NKE) to $118.00 (from $108.00) after rolling forward the model to include FY22.

The analyst maintained an Overweight rating stating "We continue to believe NKE is in the early innings of transition from a traditional wholesale business to a digitally-driven, direct-to-consumer brand. The business appears positioned to take share in the high-growth, global activewear market as well as increase profitability. This should make it one of the highest-growth consumer names, as well as one of the few to potentially benefit from the shift to digital (which accounted for ~10% of the business’ FY 2019 sales)".

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