Morgan Stanley And Bank of America Downgraded Nike Inc (NKE)


Nike Inc (NYSE:NKE) was downgraded by equities researchers at Morgan Stanley from an “overweight” rating to an “equal weight” rating in a research note issued on Wednesday, StockTargetPrices.com reports. They currently have a $60.00 price target on the footwear maker’s stock, down from their prior price target of $69.00. Morgan Stanley’s price target indicates a potential upside of 8.66% from the stock’s previous close.


Nike Inc (NYSE:NKE) was downgraded by research analysts at Bank of America from a “buy” rating to a “neutral” rating in a report released on Wednesday, The Fly reports.

A number of hedge funds recently added to or reduced their stakes in the company. Boston Advisors boosted its stake in Nike by 10.0% in the fourth quarter. Boston Advisors now owns 14,784 shares of the footwear maker’s stock worth $924,000 after buying an additional 1,340 shares during the period. J. W. Burns & Company boosted its stake in Nike by 8.0% in the fourth quarter. J. W. Burns & Company now owns 66,996 shares of the footwear maker’s stock worth $4,187,000 after buying an additional 4,970 shares during the period. Meag Munich Ergo Kapitalanlagegesellschaft bought a new stake in Nike during the third quarter worth approximately $26,543,000. Capital One National Association boosted its stake in Nike by 102.6% in the fourth quarter. Capital One National Association now owns 86,108 shares of the footwear maker’s stock worth $5,382,000 after buying an additional 43,611 shares during the period. Finally, 1ST Source Bank boosted its stake in Nike by 128.4% in the fourth quarter. 1ST Source Bank now owns 36,620 shares of the footwear maker’s stock worth $2,289,000 after buying an additional 20,590 shares during the period.



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