Athletic apparel and footwear retailer Foot Locker (FL) was named a "Top Pick" by Barclays on Monday morning. The firm reiterated its price target of $80.
Barclays believes Foot Locker has the most potential for multiple expansion across the sector, which should be the result of rising allocations of new vendor products driving a return to greater levels of comparable store sales.
"FL is the dominant retailer of premium, innovative athletic product in the physical brick and mortar world for both the US and Europe, which is similar to Best Buy's (BBY) position in North America," the firm said in a note.
Don't miss these top stories on TheStreet:
- Here's Your Buy Signal in Amazon! -- It's Happening Right Now
- Apple's Hometown Is Among 10 of the Most Overvalued U.S. Housing Markets
- Bitcoin Fork Marks Historic Day for the Cryptocurrency
- Trading Strategies: What's Hot in August?
- Ford's 2018 Mustang Will Have Tear Your Face Off Horsepower and Be Totally Silent