UPDATE: JP Morgan Initiates Coverage on Foot Locker, Trading Up 3%
January 27, 2014 at 10:44 AM EST
In a report released Monday, JP Morgan analyst Matthew Boss initiated an Overweight rating on Foot Locker (NYSE: FL ) with a price target of $47. The report states, "FL's total return algorithm should approach mid-teens the next three years driven by mid-single-digit top-line growth and ~100bps of EBIT margin