UPDATE: Goldman Sachs Starts Foot Locker (FL) at Buy

(updating comment)

Goldman Sachs analyst Alexandra Walvis initiates coverage on Foot Locker (NYSE: FL) with a Buy rating and a price target of $38.00.

The analyst comments "We see FL as a competitively positioned retailer with several enduring tailwinds given its strategic importance to key vendors, strong category dynamics and product cycles, market share consolidation opportunities, and a step-up in digital connectivity. While we recognize potential for near-term volatility given an uncertain consumer recovery path associated with COVID-19, we believe FL’s solid balance sheet, net cash position, and national footprint positions the shares for outperformance."

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 $32.27 yesterday.

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