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TRADE ALERT- Footlocker an Attractive Long Play- Credit Suisse (FL)

buy hold sell street sign ratingsIn a research note, Credit Suisse said that Foot Locker (NYSE: FL) remains an attractive buy. According to the note, it has numerous growth drivers including store remodeling activity, international growth, increasing margin drivers, and buybacks.

It has an “Outperform” rating on the stock with a $43 price target indicating a 23 percent upside potential.

Technically, Foot Locker fell below its 50 day moving average but found intraday support at is 200 day. The stock has pulled back due to earnings in the past consecutive quarters. The last move proved to be an attractive buy level with the most recent pullback exhibiting many of the same characteristics. Providing it holds its 200 DMA, the stock could be poised to quickly recover

[stock-tools exchange="NYSE" symbol="FL" image_height="230" image_width="350"]

Disclosure: At the time of this writing, the author had no position in the company mentioned.

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