Nike's Worst May Nearly Be Over: Analyst Sees CEO Transition And Strategic Fixes Sparking A Turnaround

Needham analyst Tom Nikic initiated Nike, Inc. NKE with a Buy rating and a price forecast of $84.The analyst suggests that Nike’s worst may nearly be over, with the recent CEO transition from John Donohoe to Nike veteran Elliott Hill seen as a major turning point – “Nike’s proverbial white knight.”The analyst also acknowledges that management accepts past mistakes and takes decisive steps to correct them.Although these strategies may pressure profits on P&L in the short term, they are viewed as the right mo ...