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Credit Suisse Starts Foot Locker as an “Outperform”; Still Sees 18% Upside Despite YTD Outperformance (FL)

By Dividend.com,  September 07, 2012, 08:57:12 AM EDT

Athletic footwear and apparel retailer Foot Locker, Inc. ( FL ) on Friday caught some bullish commentary from analysts at Credit Suisse.

The firm initiated coverage on FL with an "Outperform" rating and $43 price target, suggesting an 18% upside to the stock's Thursday closing price of $36.33.

Credit Suisse noted the company is bringing plenty of sales momentum into the upcoming holiday season.

Foot Locker shares were mostly flat in premarket trading Friday.

The Bottom Line
Shares of Foot Locker ( FL ) have a 1.98% dividend yield, based on last night's closing stock price of $36.33. The stock has technical support in the $32-$33 price area. The shares are trading at all-time highs.

Foot Locker, Inc. ( FL ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Stocks

Referenced Stocks: FL



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