#6 - Foot Locker (NYSE:FL)
Investors who are looking for a way to play the athleisure trend without picking a specific brand can set their sights on Foot Locker (NYSE:FL). The retailer’s stock was holding its own in 2022 but gapped down sharply after its February earnings report. Some may put the blame on revenue that met but didn’t exceed expectations. However, the real culprit for such a sharp drop was likely a flight to safety. The company reported earnings at approximately the same time Russia’s war on Ukraine commenced.
There are some concerns about the company’s future growth prospects. Some of those concerns may abate if the current supply chain difficulties ease. However, even based on those revenue projections, FL stock looks undervalued at its current price. The company has invested in its digital capabilities. And that should be a strong catalyst for the stock moving forward.
About Foot Locker
Foot Locker, Inc, through its subsidiaries, operates as a footwear and apparel retailer in North America, Europe, Australia, New Zealand, Asia, and the Middle East. Its brand portfolio includes Foot Locker, a brand comprising sneakers and apparel; Kids Foot Locker, which offers athletic footwear, apparel, and accessories for children; and Champs Sports that operates as a mall-based specialty athletic footwear and apparel retailer.
Read More - Current Price
- $23.13
- Consensus Rating
- Hold
- Ratings Breakdown
- 5 Buy Ratings, 8 Hold Ratings, 2 Sell Ratings.
- Consensus Price Target
- $27.33 (18.2% Upside)
