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

Benzinga02:40

Needham analyst Tom Nikic initiated Nike, Inc. (NYSE: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 ...

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(NYSE:NKE) with a Buy rating and a price forecast of $84.\nThe analyst suggests that Nike’s worst may nearly be over, with the recent CEO transition from ...</p>\n\n<a href=\"https://finance.yahoo.com/news/nikes-worst-may-nearly-over-184014331.html\">Source Link</a>\n\n</div>\n","source":"yahoofinance","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Nike's Worst May Nearly Be Over: Analyst Sees CEO Transition And Strategic Fixes Sparking A Turnaround</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nNike's Worst May Nearly Be Over: Analyst Sees CEO Transition And Strategic Fixes Sparking A Turnaround\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-11-23 02:40 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/nikes-worst-may-nearly-over-184014331.html><strong>Benzinga</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Needham analyst Tom Nikic initiated Nike, Inc. (NYSE:NKE) with a Buy rating and a price forecast of $84.\nThe analyst suggests that Nike’s worst may nearly be over, with the recent CEO transition from ...</p>\n\n<a href=\"https://finance.yahoo.com/news/nikes-worst-may-nearly-over-184014331.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU0154236417.USD","symbol_name":"BGF US FLEXIBLE EQUITY \"A2\" ACC","start_time":0,"source_url":"https://finance.yahoo.com/news/nikes-worst-may-nearly-over-184014331.html","article_id":"2485138552","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/GIFyDshtcje00jy37VFSdw--~B/aD01NzY7dz0xMDI0O2FwcGlkPXl0YWNoeW9u/https://media.zenfs.com/en/Benzinga/e61adbbb8a652d62a0e77e572e9b9b12"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2485138552","pubTimestamp":1732300814,"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"Needham analyst Tom Nikic initiated Nike, Inc.  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 moves for the company, Nikic writes.While rebuilding the brand’s momentum will take time, the analyst sees potential for Nike to become an attractive “story stock” in 2025, especially if performance has hit its lowest point and investors view Elliott Hill as the company’s savior.Also Read: ‘Staggering’ Google Breakup Proposal From DOJ A ‘Kitchen Sink Moment’: Alphabet Analyst. The analyst notes that three years ago, the consensus FY25 EPS forecast for Nike was around $6.60, but it has now","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"LU0154236417.USD":"BGF US FLEXIBLE EQUITY \"A2\" ACC","LU1551013425.SGD":"Allianz Income and Growth Cl AMg2 DIS H2-SGD","LU0077335932.USD":"FIDELITY AMERICAN GROWTH \"A\" INC","LU1201861165.SGD":"Natixis Harris Associates Global Equity PA SGD","LU1035775433.USD":"AB SICAV I - AMERICAN GROWTH PORTFOLIO \"AD\" (USD) INC","BK4514":"搜索引擎","LU0433182093.SGD":"First Eagle Amundi International AS-C SGD","LU0980610538.SGD":"Natixis Harris Associates US Equity RA SGD-H","LU2491049909.HKD":"WELLINGTON SUSTAINABLE OUTCOMES \"A\" (HKD) ACC","IE00B775SV38.USD":"NEUBERGER BERMAN US MULTICAP OPPORTUNITIES \"A\" (USD) ACC","NKE":"耐克","LU1974910355.USD":"Allianz Thematica Cl AMg DIS USD","LU1880398471.USD":"AMUNDI FUNDS GLOBAL EQUITY \"A2\" (USD) ACC","SG9999014914.USD":"UNITED GLOBAL QUALITY GROWTH (USDHDG) INC","BK4532":"文艺复兴科技持仓","LU0187121727.USD":"FIDELITY SUSTAINABLE US EQUITY \"A\" (USD) INC","LU1267930730.SGD":"富兰克林美国机遇基金AS Acc SGD (CPF)","LU1791710582.SGD":"Fidelity Global Demographics A-ACC-SGD (SGD/USD hedged)","LU1988902786.USD":"FULLERTON LUX FUNDS GLOBAL ABSOLUTE ALPHA \"I\" (USD) ACC","LU0417517546.SGD":"Allianz US Equity Cl AT Acc SGD","LU0642271901.SGD":"Janus Henderson Horizon Global Technology Leaders A2 SGD-H","LU2108987350.USD":"UBS (LUX) EQUITY SICAV GLOBAL OPPORTUNITY SUSTAINABLE (USD) \"P\" (USD) ACC","LU0312595415.SGD":"Schroder ISF Global Climate Change Equity A Acc SGD","IE00BN29S564.USD":"JANUS HENDERSON BALANCED \"A3\" (USD) INC","IE00BJJMRY28.SGD":"Janus Henderson Balanced A Inc SGD","IE00BSNM7G36.USD":"NEUBERGER BERMAN SYSTEMATIC GLOBAL SUSTAINABLE VALUE \"A\" (USD) ACC","SG9999002232.USD":"Allianz Global High Payout USD","SG9999000418.SGD":"Aberdeen Standard Global Technology SGD","GOOGL":"谷歌A","LU0128525689.USD":"TEMPLETON GLOBAL BALANCED \"A\"(USD) ACC","LU1868837136.USD":"CT (LUX) I AMERICAN \"8\" (USD) ACC","LU2125154935.USD":"ALLSPRING (LUX) WF GLOBAL EQUITY ENHANCED INCOME \"I\" (USD) INC","LU0820562030.AUD":"ALLIANZ INCOME AND GROWTH \"AMH2\" (AUDHDG) H2 INC","GOOG":"谷歌","LU2456880835.USD":"ALLIANZ GLOBAL INCOME \"AT\" (USD) ACC","LU1489326972.SGD":"First Eagle Amundi International AHS-MD SGD-H","IE00BK4W5L77.USD":"HSBC GLOBAL FUNDS ICAV US EQUITY INDEX \"HC\" (USD) ACC","LU0302445910.USD":"SCHRODER ISF GLOBAL CLIMATE CHANGE EQUITY \"A\" ACC","LU0314104364.USD":"MANULIFE GF AMERICAN GROWTH \"AA\" (USD) INC","LU2505996681.GBP":"WELLINGTON MULTI-ASSET HIGH INCOME \"AM4H\" (GBPHDG) INC","LU1046421795.USD":"富达环球科技A-ACC","LU0648001328.SGD":"Natixis Harris Associates US Equity RA SGD","LU0289960550.SGD":"AB FCP I - GLOBAL EQUITY BLEND PORTFOLIO 'A' (SGD) ACC","LU0061475181.USD":"THREADNEEDLE (LUX) AMERICAN \"AU\" (USD) ACC","LU1244550577.SGD":"FTIF - Franklin Global Multi-Asset Income A (Mdis) SGD-H1","LU0477156953.USD":"HARRIS ASSOCIATES US VALUE EQUITY \"RE\" (USD) ACC","LU2552382215.SGD":"WELLINGTON US BRAND POWER \"A\" (SGDHDG) ACC","LU0345769631.USD":"NINETY ONE GSF GLOBAL EQUITY \"A\" (USD) INC","BK4581":"高盛持仓","IE0034235303.USD":"PINEBRIDGE US RESEARCH ENHANCED CORE EQUITY \"A\" (USD) ACC"},"translate_title":"耐克最糟糕的时期可能即将结束：分析师认为首席执行官的过渡和战略调整将引发扭亏为盈","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"NKE":1,"GOOG":0.73,"GOOGL":0.73},"content_text":"Needham analyst Tom Nikic initiated Nike, Inc. (NYSE:NKE) with a Buy rating and a price forecast of $84.\nThe 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.”\nThe analyst also acknowledges that management accepts past mistakes and takes decisive steps to correct them.\nAlthough these strategies may pressure profits on P&L in the short term, they are viewed as the right moves for the company, Nikic writes.\nWhile rebuilding the brand’s momentum will take time, the analyst sees potential for Nike to become an attractive “story stock” in 2025, especially if performance has hit its lowest point and investors view Elliott Hill as the company’s savior.\nAlso Read: ‘Staggering’ Google Breakup Proposal From DOJ A ‘Kitchen Sink Moment’: Alphabet Analyst\nThe analyst notes that three years ago, the consensus FY25 EPS forecast for Nike was around $6.60, but it has now dropped to $2.75.\nHowever, per Nikic, this updated estimate accurately reflects the necessary adjustments Nike needs to make.\nThe analyst also projects revenue declines to peak in the second half of 2024 and the first half of 2025 as Nike reduces over-distributed styles.\nIf revenue trends improve in the coming quarters and the EPS revision cycle turns positive, the analyst forecasts Nike’s stock could start rising.\nThe analyst projects Nike to report FY25 revenues of $47.383 billion, with earnings per share of $2.67.\nPrice Action: NKE shares are trading higher by 2.52% to $76.99 at last check Friday.\nPhoto via Shutterstock\nRead Next: \n\nTrump Appears ‘Frustrated’ As Elon Musk Chimes In On Treasury Secretary, Adds More Names To Short List \n\nLatest Ratings for NKE\n\n\n\nDate\nFirm\nAction\nFrom\nTo\n\n\n\n\nMar 2022\nCowen & Co.\nMaintains\n\nOutperform\n\n\nJan 2022\nWells Fargo\nUpgrades\nEqual-Weight\nOverweight\n\n\nJan 2022\nSeaport Global\nInitiates Coverage On\n\nBuy\n\n\n\n View More Analyst Ratings for NKE \n View the Latest Analyst Ratings \nUNLOCKED: 5 NEW TRADES EVERY WEEK. Click now to get top trade ideas daily, plus unlimited access to cutting-edge tools and strategies to gain an edge in the markets.\nGet the latest stock analysis from Benzinga?\n\nNIKE (NKE): Free Stock Analysis Report\n\nThis article Nike's Worst May Nearly Be Over: Analyst Sees CEO Transition And Strategic Fixes Sparking A Turnaround originally appeared on Benzinga.com\n© 2024 Benzinga.com. Benzinga does not provide investment advice. 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