Wedbush Reports on Foot Locker (FL)

In a report released yesterday, Wedbush commented on Foot Locker FL. In the report, Wedbush was positive in its assessment of the company. Wedbush writes, “We are raising our Q1 EPS assumption to $0.47 from $0.43 based on our belief that the strength in athletic footwear, driven by solid lightweight running and basketball sell-through, and an improving apparel presentation are yielding significant comp gains at FL. We believe these solid demand trends are accelerating the company's EBIT margin recovery. As such, we reiterate our Outperform rating and are raising our price target to $26.” Wedbush currently has an Outperform rating on Foot Locker and a price target of $26. Shares of Foot Locker closed the trading day at $22.90, up $0.60 from the opening bell.