Canaccord Genuity Reiterates a 'Buy' on Foot Locker (FL); Analyst Day Reinforces Thesis

Canaccord Genuity reiterates a 'Buy' on Foot Locker (NYSE: FL) price target of $36.00.

Analyst, Camilo Lyon, said, "After attending FL’s analyst day, we come away with greater conviction in our BUY thesis as the gross margin expansion opportunity in apparel remains largely untapped. While the company outlined a multitude of initiatives to increase the productivity of its assets and efficiency of its supply chain, we believe gross margin expansion will be the key driver to the stock’s performance over the next 18-24 months. With strong comp momentum, a definable path to margin expansion, and consistent buybacks/dividends, we reiterate our rating."

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 $29.62 yesterday.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Advance Auto Parts (AAP) PT Lowered to $48 at DA Davidson Following 25% Selloff Post Q2 Results
• Rockwell Automation (ROK) PT Lowered to $490 at DA Davidson
• Ferrovial SA (FER:SM) (FRRVF) Reiterated at Buy by UBS on Winning Bid For Tennessee Project