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February 06, 2013 at 10:03 AM EST
Robert Baird Begins Coverage of Footlocker (FL)

Robert Baird reported on Wednesday that they have began coverage of shoe retailer, Foot Locker, Inc.(FL).

The firm has initiated coverage of FL with a “Outperform” rating and $45 price target. This price target suggests a 24% increase to the stock’s current price of $34.22.

Analysts have rated the company based on strong trends in basketball shoes which is expected to see growth in the near future.

Foot Locker shares were up 31 cents, or 0.91% during Wednesday morning trading. The stock has increased 26% in the past year.

The Bottom Line
Shares of Foot Locker, Inc.(FL) have a 2.10% yield, based on Wednesday morning’s price of $34.22

Foot Locker, Inc.(FL) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.

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