Jefferies analyst Janine Stichter says that with two-thirds of Q3 now complete, she looked at various data points to triangulate around Foot Locker's progress intra-quarter. Search interest and site traffic data suggest the Nike Air Max platform is driving growth and that basketball is showing some signs of stabilizing, Stichter tells investors in a research note. The analyst believes momentum is building for Foot Locker and that earnings upside, coupled with multiple expansion, could drive the stock higher. With the stock trading well below historical valuation levels and peers, the market doubts Foot Locker's ability to maintain its positive comp momentum in the second half of 2018, Stichter says. However, she thinks her work reinforces confidence on the company's positive comp and margin trajectory. The analyst reiterates a Buy rating on Foot Locker with a $60 price target.