Janney Montgomery Scott Maintains a 'Buy' on Foot Locker (FL); Continued Strong Trends, Risk/Reward Remains Favorable
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Price: $36.46 -0.36%
Rating Summary:
13 Buy, 5 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 25 | New: 24
Rating Summary:
13 Buy, 5 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 25 | New: 24
Trade FL Now!
Janney Montgomery Scott maintains a 'Buy' on Foot Locker (NYSE: FL) price target of $41.00 (from $40.00).
Analyst, Eric Tracy, said, "Foot Locker posted another solid print in 2Q, and we would take advantage of only moderate positive share reaction, adding to/starting positions in what we view as one of the more favorable risk/rewards in apparel/footwear...Predicated on continued comp momentum, driving fixed cost leverage and other structural margin levers (real estate - closing 100 unproductive doors, apparel mix, system uprgrades), we believe the FL thesis remains very much intact."
Janney raises FY12 EPS estimate from $2.36 to $2.42 and FY13 from $2.65 to $2.70.
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, with a 52 week range of $17.18-$36.00.
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Analyst, Eric Tracy, said, "Foot Locker posted another solid print in 2Q, and we would take advantage of only moderate positive share reaction, adding to/starting positions in what we view as one of the more favorable risk/rewards in apparel/footwear...Predicated on continued comp momentum, driving fixed cost leverage and other structural margin levers (real estate - closing 100 unproductive doors, apparel mix, system uprgrades), we believe the FL thesis remains very much intact."
Janney raises FY12 EPS estimate from $2.36 to $2.42 and FY13 from $2.65 to $2.70.
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, with a 52 week range of $17.18-$36.00.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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