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UPDATE: JP Morgan Initiates Coverage on Foot Locker, Trading Up 3%

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In a report released Monday, JP Morgan analyst Matthew Boss initiated an Overweight rating on Foot Locker (NYSE: 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.

Latest Ratings for FL

DateFirmActionFromTo
Jan 2020DowngradesPositiveNeutral
Dec 2019UpgradesHoldBuy
Nov 2019MaintainsEqual-Weight

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Posted-In: News Price Target Initiation Markets Analyst Ratings

 

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