Gilford Securities Says Foot Locker CEO Change Is A Reason For Confidence

Loading...
Loading...

On Tuesday, analysts at Gilford Securities commented on Foot Locker Inc. FL.
Analysts at the firm have a Buy rating on shares of Foot Locker.

Bernard Sosnick finds the CEO transition will be positive for the company stating, “The designation of Richard Johnson as CEO places FL in the hands of experienced footwear merchant who led FL’s international operations, which propped up the company with profits, when its US operations were bleakest. He worked closely with Hicks in the development and implementation of FL’s revitalization strategy. He is uniquely qualified to lead the company, in our opinion.”

Furthermore, Sosnick finds Foot Locker is one of the best positioned retailers as it is Nike’s primary distributor for premium-price basketball shoes. Sosnick writes, “Prior to Hicks’ arrival FL didn’t know how to make the most of its advantage—now it does.”

Shares of Foot Locker recently traded at $53.72 up 0.17 percent Wednesday morning.

date
ticker
name
Price Target
Upside/Downside
Recommendation
Firm
Posted In: Analyst ColorAnalyst Ratingsgilford securitiesRichard johnson
We simplify the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...