Barclays Raises Estimates and Price Target on Foot Locker (FL); Strong Quarter and Raised Outlook

August 20, 2012 12:28 PM EDT
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Price: $69.35 --0%

Rating Summary:
    19 Buy, 11 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 7 | Down: 8 | New: 1
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Barclays maintains an 'Equalweight' on Foot Locker (NYSE: FL) price target of $38.00 (from $35.00).

Analyst, Robert S. Drbul, said, "In the Foot Locker U.S. business, comps at domestic stores were up low teens with gains in every division except Lady Foot Locker, which was flat (although comps in women's footwear were positive across the company overall). The Direct-to-Consumer segment was up 18.1%."

Citing quarter upside and raised expectation for a strong finish to the year, Barclays raises FY12 EPS estimates from $2.30 to $2.40 and FY13 from $2.55 to $2.65.

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 $35.09 yesterday.

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