Jefferies Raises Target on Foot Locker (FL) Ahead of Results and Analyst Day; Keeps Hold Rating
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Price: $24.01 --0%
Rating Summary:
16 Buy, 25 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
16 Buy, 25 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Jefferies raised its price target on Foot Locker (NYSE: FL) from $24 to $29 ahead of Q4 results and the March 6th analyst day, but kept its Hold rating.
The analyst commented, "Sentiment is clearly to the upside and rightfully so as trends appear strong and soon to benefit from pricing tailwinds. FL has several margin levers to pull as well, offering attractive operating leverage for investors. Analyst day next week is likely to bring higher long-term margin and sales goals along with greater visibility into the business. Valuation is fair, however, as expectations are very high ahead of these events."
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 $29.01 yesterday.
The analyst commented, "Sentiment is clearly to the upside and rightfully so as trends appear strong and soon to benefit from pricing tailwinds. FL has several margin levers to pull as well, offering attractive operating leverage for investors. Analyst day next week is likely to bring higher long-term margin and sales goals along with greater visibility into the business. Valuation is fair, however, as expectations are very high ahead of these events."
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 $29.01 yesterday.
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