1/02/2013 Sterne Agee's Sam Poser reiterated his Buy rating and $41 price target on Foot Locker (NYSE: FL), saying to buy the stock weakness as fundamentals are strong & 4Q SSS will likely exceed their +6% estimate.
"We would be buyers of Foot Locker on the current weakness," Poser said. "We do not see the negative commentary regarding Finish Line (NASDAQ: FINL) from competitor firms as a read through to FL
Sometime business is bad for everyone. In the case of shoes and this strengthening economy, bad news for JC Penney and Finish Line and Sears is the result of bad management. Foot Locker business good while Finish Line business is down because FL is managed better than FINL.
I agree with Sam Poser--buy Foot Locker on weakness. I hope a lot of folks take his advise on Monday March 11 and buy FL stock, as I have 43 March $32 calls that I bought for 70 cents today.