Citi Reiterates Buy On Foot Locker

Citi Investment Research is out with a research report on Foot Locker Inc (NYSE: FL) and is reiterating its Buy rating $29 price target on shares.

In a note to clients, Citi Investment Research writes, "We believe FL's impressive 2Q bodes well for 2H as Holiday is likely to continue given current Back-to-School progress. Guidance could be conservative as: (1) higher comps will yield occupancy leverage & (2) inventory flow programs/apparel progress yield merch margin upside."

Shares of FL are up 45 cents to $18.01 today.