Sterne Agee Reiterates a 'Buy' on Foot Locker (FL); No. 1 Idea as Strong Store Sales Help Grow Share

August 17, 2012 3:06 PM EDT
Get Alerts FL Hot Sheet
Price: $69.73 --0%

Rating Summary:
    19 Buy, 11 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 9 | Down: 12 | New: 43
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Sterne Agee reiterates a 'Buy' on Foot Locker (NYSE: FL) price target of $41.00.

Analyst, Sam Poser, said, "FL continues to be our #1 idea. The company continues to take share and we see material upside to guidance. We also believe that the long term productivity story remains very much intact."

"We are maintaining our FY12 estimates and raising our FY13 EPS estimates from $2.67 to $2.69 and introducing our FY14 estimate of $3.07. We are forecasting FY12 SSS of +7.3%. We expect SSS trends to continue given the prevalence of color and innovation."

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 $34.49 yesterday.

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