RBC Capital analyst Piral Dadhania raised the firm’s price target on Nike to $85 from $75 but keeps a Sector Perform rating on the shares. Following the company’s appointment of Elliott Hill as new CEO, the stock’s investment story is being better underpinned with potential for positive change, the analyst tells investors in a research note. The groundwork for improving the product line-up is already underway, and Hill’s appointment should in time offer the opportunity for organisational and cultural improvements, though in the nearer term, Nike will likely reset its FY25 revenue guide, which appears to be “too optimistic” for the second half of FY25, RBC added.
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