Watching Foot Locker; Hearing Hedgeye Adds Co As A New Long Idea; Analyst Brian Mcgough 'Believes That Co's Stock, Currently Trading At $16.50, Has The Potential To Reach $40-$50 In The Next 2-3 Years Due To The Company's Plans To Increase Nike Exposure And Cut Unprofitable Stores'
Portfolio Pulse from Happy Mohamed
Hedgeye has added Foot Locker to its long idea list, with analyst Brian McGough predicting the company's stock could reach $40-$50 in the next 2-3 years due to plans to increase Nike exposure. The stock is currently trading at $16.50.
August 24, 2023 | 2:00 pm
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POSITIVE IMPACT
Foot Locker's stock has been identified as a long-term investment opportunity by Hedgeye, with potential to reach $40-$50 in the next 2-3 years due to increased Nike exposure.
The prediction by Hedgeye analyst Brian McGough that Foot Locker's stock could reach $40-$50 in the next 2-3 years due to plans to increase Nike exposure is a strong positive signal for the company. This could lead to increased investor interest and upward pressure on the stock price in the short term.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100