BTIG on Nike (NKE): 'We came away impressed with both his strategic mindset and leadership approach'

BTIG analyst Robert Drbul reiterated a Buy rating and $50.00 price target on Nike (NYSE: NKE).

The analyst comments "Today, we attended a Nike-sponsored meet-and-greet with new CFO Dave Denton in New York City. While Nike continues to face significant global brand challenges amid an increasingly competitive athletic footwear and apparel landscape, we believe the company stands to benefit from Mr. Denton's extensive financial leadership experience and fresh external perspective. Although he does not bring direct athletic industry or global consumer brand experience, he offers substantial public-company CFO expertise. Most recently, he served as CFO of Pfizer (PFE, Not Rated) for four years, following a four-year tenure as CFO of Lowe's Companies (LOW, Not Rated). In total, Mr. Denton brings more than 30 years of experience across large global public companies. We came away impressed with both his strategic mindset and leadership approach."

For an analyst ratings summary and ratings history on Nike click here. For more ratings news on Nike click here.

Shares of Nike closed at $37.53 yesterday.

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