Android app on Google Play

Canaccord Genuity Reiterates a 'Buy' on Foot Locker (FL); Solid Nike (NKE) Release Schedule Bodes Well for FL

February 23, 2012 9:50 AM EST Send to a Friend
Get Alerts FL Hot Sheet
Price: $45.24 +0.09%

Rating Summary:
    13 Buy, 6 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 18 | Down: 9 | New: 22
Trade FL Now!
Join SI Premium – FREE
Canaccord Genuity reiterates a 'Buy' on Foot Locker (NYSE: FL) price target raised from $30 to $34.

Analyst, Camilo Lyon, said, "FL will report Q4/11 earnings on Thursday, March 1 after market close. Based on our strong checks throughout the quarter, a consistent basketball release schedule from Nike (NYSE: NKE), and favorable December commentary from FINL, we are raising our comp assumption to 6% from 5% and our Q4 EPS estimate to $0.52 from $0.50. In addition to top-line trends remaining robust, we continue to believe there is 150-200bps of gross margin improvement opportunity in the apparel segment that remains untapped."

Lyon also believes that FL's Analyst Day on March 6th is the next catalyst post-earnings.

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 $28.36 yesterday.




You May Also Be Interested In


Related Categories

Analyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change

Related Entities

Earnings

Add Your Comment