Nike Stock Climbs as Wall Street Analysts Welcome a CEO Change [Yahoo! Finance]
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Source: Yahoo! Finance
Jefferies stuck with its hold rating noting that Hill will have to handle headwinds including more competition since he left the firm four years ago. Bank of America maintained its buy rating and said Hill's long previous tenure with Nike bodes well for its restructuring. Nike's ( NKE ) hard-hit shares rallied Friday, topping the Dow's advancers, as Wall Street analysts largely welcomed the company's appointment of veteran executive Elliott Hill as its new Chief Executive Officer (CEO Hill, who had spent 32 years at the firm and retired in 2020, was last head of the company's consumer and marketplace division. He will replace John Donahoe, who departs after almost five years as CEO. Shares of Nike were up about 6% in recent trading, leaving them down roughly 20% for the year. Jefferies Notes Nike's Headwinds, Such as Rising Competition, Distribution Changes Jefferies analysts said investors cheered the news of Hill's appointment, marking a vote of confidence for the execu
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