Foot Locker (FL) PT, Estimates Lifted at Sterne Agee

Sterne Agee analyst Sam Poser reiterated a Buy rating on Foot Locker (NYSE: FL) and boosted his price target to $65.00 (from $60.00) following solid Q2 beat and a strong start to Q3.

Poser commented, "FL is the best in class athletic specialty retailer. Ever improving execution and product mix are resulting in market share gains in brick & mortar as well as on line. 2H14 guidance is conservative. Even with the run-up in the stock, FL is still relatively inexpensive, trading at 7x our FY15 EBITDA estimate."

The firm is raising FY14/15 EPS estimates from $3.33/$3.76 to $3.46/$3.84, and introducing FY16 EPS estimate of $4.33.

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 $54.12 yesterday.

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