UBS Reiterates a 'Buy' on Foot Locker (FL); Raising Estimates as Store Becomes Lady's Choice

UBS reiterates a 'Buy' on Foot Locker (NYSE: FL) price target of $37.00 (from $36.00).

Analyst, Michael Binetti, said, "We are raising our F2QE EPS to $0.34 from $0.33, and FY12 to $2.44 from $2.42 based on: 1) ongoing solid industry sales growth (and share gains by athletic retailers like FL) in F2Q; 2) a significant acceleration in FL's core basketball category; and 3) additional upside potential from emerging EPS drivers (like the upcoming refresh of the Lady's Foot Locker chain)."

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 $32.79 yesterday.

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