AAL

Analyst Upgrade Boosts Foot Locker Stock

Credit Suisse believes sentiment is overly bearish toward FL

Deputy Editor
Feb 1, 2023 at 10:30 AM
facebook X logo linkedin


Foot Locker Inc (NYSE:FL) stock is up 2.7% to trade at $44.68 at last glance, after Credit Suisse upgraded the stock to "outperform" from "neutral," with a price-target hike to $62 from $38. The analyst in coverage noted that sentiment remains "overly bearish" toward FL, and that Nike's (NKE) pullback from the company will be far less damaging than expected, with evidence of an improving relationship between the two. 

Today's pop has FL trading at a nearly one-year high. Since the start of 2023, Foot Locker stock sports an 18% lead. 

A look at the brokerage bunch paints a very bearish picture indeed. Of the 22 analysts in coverage, 20 carry a "hold" or worse rating on FL, while the 12-month consensus price target of $40.17 sits at a 10% discount to current levels. 

The options pits, on the other hand, have been much more optimistic than usual. At the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), the security's 10-day call/put volume ratio of 4.69 ranks higher than 95% of readings from the past year, showing long calls being picked up at a much faster-than-usual rate. 

FL is seeing well-priced premiums at the moment, too. The stock's Schaeffer's Volatility Index (SVI) of 39% stands higher than just 5% of all other readings in its annual range, implying that options players are pricing in low volatility expectations at the moment. 

 

Two High-Octane Trade Ideas. One Simple Goal: Intraday Profits.

Dynamite Day Trading Signals delivers two same-day options trades every week — powered by proprietary intraday analysis and 43+ years of trading expertise.

But this isn’t just another stream of alerts.

It’s a structured plan with clear entry and exit points – designed for traders who want to act fast, trade smart, and wrap up gains before the closing bell.

No guesswork. No overnight exposure – Just two well-researched setups per week — whether you prefer buying premium or selling it.

And the results speak for themselves: subscribers have locked in +245.8% total profit over the last six months (since inception!).

👉 Start your one-month trial now for just $10, and be ready for the next trade alert.