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Fly News Breaks for June 20, 2019
FL, KSS, NKE
Jun 20, 2019 | 08:11 EDT
Morgan Stanley analyst Lauren Cassel said she believes investor sentiment ahead of Nike's (NKE) upcoming earnings report is "more muted" than it was leading up to last quarter's report and she "leans positively" given her view that concerns about North American revenue growth, as well as China fears, are overdone. The analyst, who thinks recent commentary from Kohl's (KSS) and Foot Locker (FL) has made investors more nervous about Nike's growth in North America, keeps an Overweight rating on Nike and calls it her top pick.
News For NKE;KSS;FL From the Last 2 Days
NKE
Mar 27, 2024 | 13:03 EDT
Morgan Stanley lowered the firm's price target on Nike to $116 from $124 and keeps an Overweight rating on the shares. Following Nike's Q3 earnings report, the firm reduced its Q4 topline and profitability forecasts based on weaker Q4 sales gross margin guidance than previously assumed. The firm now projects 80c EPS, versus the implied guidance of about 77c-78c and the firm's prior 91c forecast.