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