In a report released Monday, JP Morgan analyst Matthew Boss initiated an Overweight rating on Foot Locker FL with a price target of $47.
The report states, "FL's total return algorithm should approach mid-teens the next three years driven by mid-single-digit top-line growth and ~100bps of EBIT margin expansion equating to low-doubl-digit EPS growth combined with a ~2% dividend yield."
FL closed on Friday at $37.47 and is currently trading up at $38.57.
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