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Thursday, December 30, 2010

Foot Locker (NYSE:FL) Driven by Positive Basketball Commentary, Stronger Margins

Trends are favoring the footwear segment, and Foot Locker (NYSE:FL) is positioned strongly to take advantage of that, as well as generating better margins through fewer large promotions.

Wedbush said, "FL is well positioned to capitalize on renewed interest in the category. In addition, positive basketball commentary from FINL's Q3 results also points to an improving trend in the category."

They maintain their "Outperform" rating on Foot Locker, which closed Wednesday at $19.76, up $0.34, or 1.75 percent. Wedbush raised their price target on them to $23.

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