UPDATE: Goldman Sachs Starts Foot Locker (FL) at Buy

July 22, 2021 2:25 AM EDT
Get Alerts FL Hot Sheet
Price: $48.23 -7.16%

Rating Summary:
    26 Buy, 12 Hold, 2 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 17 | Down: 5 | New: 36
Trade Now! 
Join SI Premium – FREE
(Updated - July 22, 2021 2:36 AM EDT)

Goldman Sachs analyst Kate McShane initiates coverage on Foot Locker (NYSE: FL) with a Buy rating and a price target of $70.00.

The analyst comments "We are initiating on Foot Locker (FL) with a Buy rating based on: i) FL’s strong omnichannel presence, ii) a solid pipeline of new fashion and innovation allowing for pricing power and top line growth, iii) ongoing real estate rationalization driving higher sales per square foot, iv) likely ongoing share consolidation from undifferentiated competitors, v) unique differentiators and drivers like Power Stores and growth investments in emerging companies, and vi) an attractive valuation."

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 $58.68 yesterday.

You May Also Be Interested In

Related Categories

Analyst Comments, New Coverage

Related Entities

Goldman Sachs