Citi's Top Holiday Picks Include Footlocker and Dick's Sporting Goods

Footlocker (FL) and Dick’s Sporting Goods (DKS) are both Citi’s top picks for the holiday season in the athletic apparel/footwear space. Bullish calls for Garmin (GRMN) and Alcoa (AA) as well in Monday's Analysts' Action. Citi says Foot Locker’s key releases in its basketball segment along with its strength in e-commerce are positive for the retailer. Analysts there also like Dick’s Sporting Goods’ management, especially on its long-term strategy focusing on higher margin, stronger performing categories and growth in new stores and e-commerce. Garmin was upgraded to BUY from NEUTRAL at Goldman Sachs with its price target raised to $64 from $61. Goldman thinks the provider of navigation devices is well positioned for sustained growth in the future and has strength in its outdoor and fitness segments. Alcoa is now rated a BUY from HOLD at Deutsche Bank. The firm also raised its price target to $20 from $16. The firm says the upgrade is from better than expected third-quarter results and a turnaround being seen in its primary smelting business.