UPDATE: Raymond James Resumes Foot Locker (FL) at Outperform

(Updated - November 6, 2019 9:25 AM EST)

(updated comment)

Raymond James analyst Matthew McClintock resumes coverage on Foot Locker (NYSE: FL) with a Outperform rating and a price target of $70.00.

The analyst comments "We believe Foot Locker is the single best distributor of premium athletic footwear product across the globe, and as a result is increasingly important to global athletic brands that are increasingly discerning of how consumers ultimately experience their respective brand. We believe the company can achieve 10%+ EPS growth, on average, over the foreseeable future. We forecast revenue to grow at a 4% to 6% rate annually, which is an acceleration of the 2% growth achieved in 2018 and 0.2% in 2017 (largely due to a lull in the product cycle from key vendor Nike)."

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 $44.53 yesterday.

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