New Nike CEO Elliot Hill is inheriting “a turnaround that has yet to show momentum,” according to Stifel analyst Jim Duffy.

Key Takeaways Nike's hard-hit shares topped the Dow's leaderboard Friday as Wall Street analysts largely welcomed the company's appointment of longtime executive Elliott Hill as its new CEO.Jefferies stuck with its hold rating noting that Hill will have to handle headwinds including more competition since he left the firm four years ago.

One analyst said the “highly anticipated leadership change will inject a much-needed sense of urgency” to Nike, whose share price remains down 50% from its 2021 peak.