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Foot Locker, Inc. Message Board

  • madhuben5 madhuben5 Nov 19, 2012 10:47 AM Flag

    UBS Boosts Target, Estimates for Foot Locker (FL)

    UBS Boosts Target, Estimates for Foot Locker (FL)

    By Tom Reese
    November 19th, 2012

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    Athletic footwear and apparel retailer Foot Locker, Inc. (FL) on Monday received some continued bullish commentary from analysts at UBS.

    The firm reiterated its “Buy” rating on FL and boosted its price target from $38 to $41. That new target suggests a 23% upside to the stock’s Friday closing price of $33.27. UBS also boosted its earnings estimates for the company, citing strong fiscal fourth quarter results. Read more about Foot Locker’s Q4 earnings report here.

    Foot Locker shares were mostly flat in premarket trading Monday. The stock has risen nearly 40% since the beginning of 2012.

    The Bottom Line
    Shares of Foot Locker (FL) have a 2.16% dividend yield, based on Friday’s closing stock price of $33.27. The stock has technical support in the $29-$30 price area. The stock is trading near the all-time high range of $36-$37 a share.

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