Nike new CEO 'has large sneakers to fill,' says Wedbush
Wedbush analyst Christopher Svezia notes that John Donahoe will succeed Mark Parker as President and CEO of Nike at a time when the company is leading consumer industry innovation and shares are at all time highs. Donahoe will have "large sneakers to fill" in January 2020 in taking over responsibilities from Parker, who implemented the successful Triple Double and Consumer Direct Offense strategies that have kept Nike far ahead of the competition while expanding the athletic footwear and apparel market and driving consumer industry innovation, he contends. Overall, Svezia believes Donahoe appears to be "a formidable choice" to lead Nike and may help further accelerate its digital and general market dominance. He has an Outperform rating and $100 price target on the shares.