Analysts at RW Baird began coverage of footwear retailers Foot Locker (FL), Feb.5, with a Buy rating
As analysts Mitch Kummetz and Corbin Weyer write:
The athletic specialty retailers (FINL and FL) have been the biggest beneficiaries in the recent cycle – we attribute their outperformance to both the relative strength in footwear over apparel (footwear bigger mix at these retailers), and the general repositioning of the two companies (e.g., renewed focus on product, brands, inventories)…Given FL‟s leadership position in basketball, the company is in a strong position to benefit from the more recent strength in the category.
This stock just seem to go nowhere. Yesterday's plunge indicates people are too ready to sell on downgrades. I wonder if any catalysts still exist for this stock or it's just going to go the slow drift down.