Nike "buy"

11/19/04 - D.A. Davidson & Co.

NEW YORK, November 19 (newratings.com) - Analysts at DA Davidson maintain their "buy" rating on Nike Inc (NKE). The target price is set to $85.

In a research note published this morning, the analysts mention that Nike’s founder, Phil Knight, has resigned as the company’s President and CEO, while retaining his position as the Chairman of the Board of Directors. William D Perez, a former President and CEO of SC Johnson & Son, would be replacing Phil Knight on December 28, the analysts say. DA Davidson expects the change in Nike's senior management team to exert pressure on the company's share price in the near term.