#6 - Foot Locker (NYSE:FL)
At the time of this writing, Foot Locker (NYSE: FL) had yet to report. However, I’ve included it on this list because the expectation is that the footwear company will report strong earnings that will beat analysts’ estimates.
Foot Locker is benefiting from the strong demand that started as people began to prioritize fitness during the pandemic. This is complemented by a trend towards casual comfort in every day (athleisure) wear. And like many retailers, Foot Locker has taken strides to beef up its omnichannel footprint.
FL stock has climbed 94% in the last 12 months. However, analysts still believe that the company’s stock may have an upside of over 12% from current levels. And in the week before the company reports earnings, the company has received two increased price targets from investors.
Analysts have also been impressed by the company’s $1.7 billion cash reserve. However, they will be listening intently to the company’s earnings to find out how the company plans to deploy this cash for international expansion.
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
- $22.41
- Consensus Rating
- Hold
- Ratings Breakdown
- 5 Buy Ratings, 9 Hold Ratings, 3 Sell Ratings.
- Consensus Price Target
- $25.18 (12.3% Upside)
