Barclays Maintains an 'Equalweight' on Foot Locker (FL); Review of 3Q11
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Price: $24.01 --0%
Rating Summary:
16 Buy, 25 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 6 | Down: 6 | New: 58
Rating Summary:
16 Buy, 25 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 6 | Down: 6 | New: 58
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Barclays maintains an 'Equalweight' on Foot Locker (NYSE: FL) price target of $28.00.
Barclays analyst says, "Foot Locker reported 3Q11 EPS of $0.43, $0.06 above our estimate. Revenue increased 8.9% to $1.39 billion, with comp store sales up 7.4%. This is the seventh consecutive quarter that the company reported sales and profit increases. In the U.S. business, comps grew in the high single digits, with over 20% growth in the Direct-to-Consumer segment. The international business showed the greatest strength in Canada with high single digit comp growth overall, while Europe and Asia Pacific both had comp gains in the low single digits."
"Given continued strong gross margin expansion in the quarter, and the sustained comp acceleration into November, we are increasing our 2011 and 2012 EPS estimates to $1.77 and $1.90 from $1.70 and $1.85, respectively."
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.
Barclays analyst says, "Foot Locker reported 3Q11 EPS of $0.43, $0.06 above our estimate. Revenue increased 8.9% to $1.39 billion, with comp store sales up 7.4%. This is the seventh consecutive quarter that the company reported sales and profit increases. In the U.S. business, comps grew in the high single digits, with over 20% growth in the Direct-to-Consumer segment. The international business showed the greatest strength in Canada with high single digit comp growth overall, while Europe and Asia Pacific both had comp gains in the low single digits."
"Given continued strong gross margin expansion in the quarter, and the sustained comp acceleration into November, we are increasing our 2011 and 2012 EPS estimates to $1.77 and $1.90 from $1.70 and $1.85, respectively."
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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