Foot Locker (FL) PT Raised to $29 at Baird

August 10, 2020 9:56 AM EDT
Get Alerts FL Hot Sheet
Price: $49.63 +0.57%

Rating Summary:
    26 Buy, 12 Hold, 2 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 7 | Down: 15 | New: 24
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Baird analyst Jonathan R. Komp raised the price target on Foot Locker (NYSE: FL) to $29.00 (from $24.00) while maintaining a Neutral rating.

Analyst comments: "While encouraged to see FL take advantage of a
better near-term environment, the results directionally do not appear surprising given
several tailwinds during May-June (pent-up demand, fiscal stimulus) which were well
documented by others (HIBB/NPD) and seem likely to prove temporary. We are raising
our estimates and PT, though still see relatively low visibility especially with recent
indications suggesting FQ3-trends-to-date likely already have moderated significantly."

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