Nike: remains a Credit Suisse top pick after CEO change

(CercleFinance.com) - Credit Suisse maintains an "outperform" rating on Nike, with a target price of 112 dollars, after the company announced that former eBay boss John Donahoe will succeed CEO Mark Parker next year.


In a research note, the broker said it sees "no change" to the Nike story, noting that the CEO announcement happens during a period of "strength" for the brand.

Credit Suisse also pointed out that ServiceNow's market cap has tripled to 45 billion dollars from 15 billion dollars since Donahoe joined in early 2017.

"We don't see any fundamental changes to Nike's existing strategy or corporate priorities on the news of the CEO replacement," it wrote, adding that Nike remains one of its top picks.

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