Jefferies maintains a 'Hold' on Foot Locker (FL); NBA Impact Addressed as Strong Momentum Continues

Jefferies maintains a 'Hold' on Foot Locker (NYSE: FL) price target raised $2 to $24.

Jefferies analyst says, "This morning's earnings call likely could not have gone any better. Management addressed risks directly and with encouraging commentary. The NBA lockout is having little, if any, impact with November up HSD%. Europe and Canada continue to perform well despite the macro risks (this was our biggest concern coming in). Athletic remains one of the strongest trends in retail, giving FL a positive bias into Holiday."

Jefferies raises FY11 EPS estimate from $1.72 to $1.77 and FY112 from $1.87 to $1.97.

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 $22.38 yesterday.

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