Morgan Stanley upgrades Nike to overweight from equal-weight Wednesday after the bell.


Nike shares jump 2% after Morgan Stanley predicts a big rally ahead on new sneakers

  • Morgan Stanley upgrades Nike to overweight from equal-weight Wednesday after the bell.
  • The firm believes Nike's sales growth will improve due to its new products such as the Air VaporMax.
  • The company underperformed the market in the previous 12 months with its shares flat through Wednesday compared to the S&P 500's 14 percent return.

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