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FL

Foot Locker

$34.38

-13.32 (-27.92%)

, DKS

Dick's Sporting

$26.99

-0.75 (-2.70%)

07:59
08/21/17
08/21
07:59
08/21/17
07:59

Foot Locker weakness creates buying opportunity, says Citi

After Foot Locker reported weaker than expected results and predicted its SSS would fall 3%-4% for the rest of the year, Citi analyst Kate McShane says that its "global reach and scale" should give it "some protection from vendors changing their allocation strategy," while its inventory situation is superior to that of athletic apparel retailers. She adds that interest in sneakers remains high, and she thinks that the company's comp trends in Q4 and fiscal 2018 could exceed expectations. The analyst thinks that the stock has reached "very attractive levels," and she says it's in a better position than Dick's Sporting (DKS) which she downgraded last Tuesday.

FL

Foot Locker

$34.38

-13.32 (-27.92%)

DKS

Dick's Sporting

$26.99

-0.75 (-2.70%)

  • 22

    Aug

  • 23

    Aug

FL Foot Locker
$34.38

-13.32 (-27.92%)

08/21/17
UBSW
08/21/17
DOWNGRADE
Target $9
UBSW
Sell
Finish Line downgraded to Sell from Neutral at UBS
UBS analyst Michael Binetti downgraded Finish Line (FINL) to Sell from Neutral based on the structural risks exposed by Foot Locker (FL) in its Q2 report. The analyst sees an incremental risk of a more rapid deterioration in Finish Line's core mid/lower tier markets versus Foot Locker. He also sees lower gross margins, prompting Binetti to lower his price target to $9 from $14 on Finish Line shares.
08/21/17
UBSW
08/21/17
DOWNGRADE
Target $37
UBSW
Neutral
Foot Locker downgraded to Neutral from Buy at UBS
UBS analyst Michael Binetti downgraded Foot Locker (FL) to Neutral from Buy following Q2 results. The results, which were worse than the analyst expected, make it tougher to support a thesis that athletic retail will be able to sidestep the structural challenges of the broader sector, said Binetti, who also sees additional challenges and potential market share loss from Amazon.com (AMZN). Binetti lowered his price target to $37 from $70 on Foot Locker shares.
08/21/17
BARD
08/21/17
DOWNGRADE
BARD
Neutral
Foot Locker downgraded to Neutral from Outperform at Baird
08/18/17
ADAM
08/18/17
DOWNGRADE
ADAM
Hold
Foot Locker downgraded to Hold from Buy at Canaccord
DKS Dick's Sporting
$26.99

-0.75 (-2.70%)

08/18/17
SBSH
08/18/17
NO CHANGE
Target $81
SBSH
Buy
Foot Locker results and guidance 'greatly disappoints,' says Citi
Citi analyst Kate McShane says Foot Locker's (FL) Q2 results and outlook "greatly disappoints." The company posted its first negative comp since Q4 of 2009, McShane tells investors in a post-earnings research note. Along with Foot Locker, the analyst expects weakness in shares of Nike (NKE) and Finish Line (FINL) as well as Under Armour (UAA, UA) and Dick's Sporting Goods (DKS). McShane currently has a Buy rating on Foot Locker.
08/16/17
08/16/17
DOWNGRADE

Dick's Sporting downgraded to Sell from Buy at Forward View
Forward View downgraded Dick's Sporting Goods two notches to Sell from Buy and cut its price target to $25 from $51.
08/16/17
08/16/17
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Dick's Sporting (DKS) was downgraded to Neutral from Buy at Monness Crespi, Goldman Sachs, MKM Partners, Buckingham, Citi, and to Neutral from Positive at Susquehanna, while being downgraded to Hold from Buy at Deutsche Bank and to Sector Perform from Outperform at RBC Capital. 2. Teva (TEVA) downgraded to Neutral from Buy at Citi with analyst Liav Abraham saying Teva is "cheap, but not cheap enough." 3. Advance Auto Parts (AAP) downgraded to Neutral from Overweight at Atlantic Equities with analyst Sam Hudson citing limited near-term visibility. 4. SL Green Realty (SLG) and Kilroy Realty (KRC) were downgraded to Neutral from Buy at BofA/Merrill, while Gramercy Property Trust (GPT) was downgraded to Underperform from Neutral. 5. CB&I (CBI) downgraded to Hold from Buy at Jefferies with analyst Martin Englert saying he is concerned that cost overruns at the company's two LNG projects could reemerge, adding risk to 2017-2019 earnings. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
08/16/17
MONN
08/16/17
DOWNGRADE
MONN
Neutral
Dick's Sporting downgraded to Neutral from Buy at Monness Crespi
Monness Crespi analyst Jim Chartier downgraded Dick's Sporting Goods to Neutral following the company's Q2 results.

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