Morgan Stanley analyst Jay Sole upgraded Nike to Overweight from Equal Weight and raised his price target for the shares to $68 from $56 following today's market close. The stock closed the day up 12c to $57.77. The window to buy Nike is closing as earnings and North America sales growth rates are likely troughing, Sole tells investors in a research note. The analyst pegs the stock's risk/reward at three-to-one to the upside. He believes Nike's new products like Air VaporMax and quicker speed-to-market will reverse the headwinds it has experienced over the past 18 months.
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