November 19, 2012 at 08:45 AM EST
UBS Boosts Target, Estimates for Foot Locker (FL)

Athletic footwear and apparel retailer Foot Locker, Inc. (FL) on Monday received some continued bullish commentary from analysts at UBS.

The firm reiterated its “Buy” rating on FL and boosted its price target from $38 to $41. That new target suggests a 23% upside to the stock’s Friday closing price of $33.27. UBS also boosted its earnings estimates for the company, citing strong fiscal fourth quarter results. Read more about Foot Locker’s Q4 earnings report here.

Foot Locker shares were mostly flat in premarket trading Monday. The stock has risen nearly 40% since the beginning of 2012.

The Bottom Line
Shares of Foot Locker (FL) have a 2.16% dividend yield, based on Friday’s closing stock price of $33.27. The stock has technical support in the $29-$30 price area. The stock is trading near the all-time high range of $36-$37 a share.

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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