Barclays Maintains an 'Equalweight' on Foot Locker (FL); Raising Estimates on Strong Quarterly Results
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Price: $36.59 -0.89%
Rating Summary:
13 Buy, 5 Hold, 0 Sell
Rating Trend:
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Today's Overall Ratings:
Up: 21 | Down: 43 | New: 13
Rating Summary:
13 Buy, 5 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 21 | Down: 43 | New: 13
Trade FL Now!
Barclays maintains an 'Equalweight' on Foot Locker (NYSE: FL) price target of $35.00.
Analyst, Robert S. Drbul, said, "Foot Locker reported 1Q12 adjusted EPS of $0.83, $0.13 above our estimate. Revenue increased 8.7% to $1.58 billion, with comp store sales up 9.7% driven by sales in marquee footwear merchandise in its basketball, classics and retro lines and strength in Apparel in the U.S. (+20%). This is the highest reported quarterly earnings in the company's history and ninth consecutive quarter that the company reported sales and profit increases."
Barclays raises FY12 EPS estimate from $2.30 to $2.55 and FY13 from $2.15 to $2.45.
For an analyst ratings summary and ratings history on Foot Locker click here. For more ratings news on Foot Locker click here.
Shares of Foot Locker closed at $30.33 yesterday, with a 52 week range of $16.66-$32.27.
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Analyst, Robert S. Drbul, said, "Foot Locker reported 1Q12 adjusted EPS of $0.83, $0.13 above our estimate. Revenue increased 8.7% to $1.58 billion, with comp store sales up 9.7% driven by sales in marquee footwear merchandise in its basketball, classics and retro lines and strength in Apparel in the U.S. (+20%). This is the highest reported quarterly earnings in the company's history and ninth consecutive quarter that the company reported sales and profit increases."
Barclays raises FY12 EPS estimate from $2.30 to $2.55 and FY13 from $2.15 to $2.45.
For an analyst ratings summary and ratings history on Foot Locker click here. For more ratings news on Foot Locker click here.
Shares of Foot Locker closed at $30.33 yesterday, with a 52 week range of $16.66-$32.27.
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