Citi Maintains Buy on Foot Locker

Citi is out with its report today on Foot Locker FL, maintaining Buy. In its report, Citi writes, "We believe FL is well positioned to deliver accelerating EPS on continued comp momentum, gross margin upside (on inventory management and renewed focus on profitability), & robust footwear cycle fueled by technical running, a reacceleration in basketball, and an ongoing focus on fitness." Citi maintains a $29 PT on FL. At the time of posting, shares of FL were trading pre-market at $18.10, down 3.10% from Wednesday's close.