Foot Locker (FL): Raising PT - Jefferies

August 22, 2016 8:01 AM EDT
Get Alerts FL Hot Sheet
Price: $69.35 -0.54%

Rating Summary:
    19 Buy, 11 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 13 | Down: 22 | New: 54
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Jefferies analyst, Randall Konik, reiterated his Buy rating on shares of Foot Locker (NYSE: FL) after the company FL put up solid 2Q results with sales, margins and EPS ahead of expectations and started 3Q off to a strong start with +MSD comps. The sequential re-acceleration in basketball shoes, stellar success of brands like Adidas, and long term growth initiatives are on track.

The price target increases to $80.00 (from $73.00) on a 16.5x P/E and 8.6x EV/EBITDA on FY18 estimates.

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 $68.49 yesterday.

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