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Deutsche Bank Starts Foot Locker (FL) at Hold; Sidelined Ahead of Strategic Update

February 17, 2012 7:26 AM EST
Get Alerts FL Hot Sheet
Price: $22.92 +1.96%

Rating Summary:
    15 Buy, 21 Hold, 5 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 20 | Down: 14 | New: 22
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Deutsche Bank initiates coverage on Foot Locker (NYSE: FL) with a Hold. PT $30.00.

Deutsche analyst says, "We are impressed with CEO Ken Hicks's execution of the turnaround plan, which has led to 5 yr. goals achieved in half the time. However, after substantial SSS and margin gains, we believe growth will moderate, driven by rising marketing expenses and necessary Internet investments. Also, we are concerned strong SSS at Champs/FL are being hampered by European exposure and weak non-core banners, which contribute ~30% of sales. Ahead of the upcoming strategic update, we believe the sidelines is the prudent approach, for now."

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 $28.17 yesterday.


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