Citigroup Upgrades Foot Locker: Here's What You Need To Know

Citigroup upgraded its rating of Foot Locker FL to Buy with a price target of $50.00, changing its price target from $47.00 to $50.00.

Shares of Foot Locker are trading up 6.77% over the last 24 hours, at $42.56 per share.

A move to $50.00 would account for a 17.48% increase from the current share price.

About Foot Locker

Foot Locker Inc operates thousands of retail stores throughout the United States, Canada, Europe, Australia, and New Zealand. It also has one franchisee in the Middle East and one in South Korea, each of which operates multiple stores in those regions. The company mainly sells athletically inspired shoes and apparel. Foot Locker's merchandise comes from only a few suppliers, with Nike providing the majority. Store names include Foot Locker, Champs, and Runners Point. The company also has an e-commerce business selling through Footlocker.com, Eastbay, and Final-Score.

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This article was generated by Benzinga's automated content engine and reviewed by an editor.