Citigroup Increases Price Target for Foot Locker (FL)

Citigroup has raised estimates for shoe retailer, Foot Locker, Inc.(FL) Monday.

The firm reported that they have increased FL’s estimates through 2014. They have given the company a rating of “Buy,” and a price target of $41. This price target suggests a 19% increase over the stock’s current price of $33.27.

Increased estimates are due to the company’s continuous production of high quality products.

Foot Locker shares were mostly flat during premarket trading Monday.

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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