UPDATE: Bank of America Reiterates Nike at Buy, $68 PT on Strong Sales Trends

In a report published by Bank of America, analyst Robert F. Ohmes reiterated his Buy rating and $68 price target on Nike

. Bank of America reported that, “We forecast healthy constant $ global futures of +5-7% through F2H13, driven by: (1) price increases (3-4%); (2) accelerating global momentum in basketball; (3) strong trends in running (Free) with benefit from broader Flyknit distribution; (4) improving trends in casual athletic led by increased Air Force 1 allocations; (5) strength in US technical apparel; (6) still strong Emerging Market growth led by Brazil; and (7) powerful direct-to-consumer trends (Nike brand 2Q comp up 16%).” Shares of Nike closed at $54.78 on Friday.