Jim Cramer on What Nike's Analyst Upgrades Mean for Foot Locker

Nike was upgraded by Susquehanna and Piper on Monday and TheStreet's founder and Action Alerts PLUS Portfolio Manager Jim Cramer is looking for a read through to Foot Locker, which reports earnings on Friday.
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Nike (NKE) - Get Report was upgraded by Susquehanna and Piper on Monday and TheStreet's founder and Action Alerts PLUS Portfolio Manager Jim Cramer is looking for a read through to Foot Locker (FL) - Get Report , which reports earnings on Friday.

"I think that the two upgrades today were trying to get ahead of Foot Locker," Cramer noted. "Foot Locker looks like a cheap stock."

Foot Locker shares are up 9% since the start of the year.