Market Overview

UPDATE: Credit Suisse Initiates Foot Locker at Outperform on Store Traffic

Share:
Related FL
Deutsche Bank Loves Foot Locker, JC Penney And Costco In 2016...But Why?
Barron's Picks And Pans: Ctrip, Franklin Electric And More
Nike, Constellation Brands Lead IBD 50s Ready For Super Bowl Sunday (Investor's Business Daily)

Credit Suisse initiated its coverage on Foot Locker (NYSE: FL) with a rating of Outperform and a $43 price target.

Credit Suisse said, "Key Investment Points: (1) Strong footwear cycle is sustainable near-term and FL is best positioned to benefit; (2) store checks show progress in Lady Foot Locker and other banners; (3) international is faring better than feared and provides a significant growth opportunity over the long term; (4) potential upside to margins from better apparel, systems improvements, and labor efficiencies; and (5) building cash could lead to an increase in dividend payments or greater share buybacks. These factors point to low teens/mid-teens EPS growth versus the Street's 11% longer term estimate. "

Foot Locker closed at $36.33 on Thursday.

Latest Ratings for FL

DateFirmActionFromTo
Feb 2016Credit SuisseAssumesNeutral
Jan 2016Bank of AmericaUpgradesNeutralBuy
Jan 2016Deutsche BankMaintainsBuy

View More Analyst Ratings for FL
View the Latest Analyst Ratings

Posted-In: Credit SuisseAnalyst Color Initiation Intraday Update Analyst Ratings

 

Related Articles (FL)

View Comments and Join the Discussion!

Get Benzinga's Newsletters