Foot Locker Gets a New CFO and Bullish Analyst Price Target

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Foot Locker Gets a New CFO and Bullish Analyst Price Target
Credit: © Reuters.

By Christiana Sciaudone

Investing.com -- Foot Locker (NYSE: FL ) rose 3.7% after announcing the appointment of a new chief financial officer.

Andrew E. Page will start April 12, and is joining from Advance Auto Parts (NYSE: AAP ). He will replace Lauren B. Peters, who is retiring. Previously, Page worked at Under Armour (NYSE: UA ), GE and Discovery Communications (NASDAQ: DISCA ).

Shares of Foot Locker have more than doubled over the past 12 months as profit has trounced expectations and demand for sneakers hasn't relented. 

Earlier Thursday, Berenberg had cited the CFO announcement as a near-term catalyst as it raised its price target on the company to $67 from $54, maintaining a buy rating, according to StreetInsider. 

 "We are raising our estimates as we believe FL has proven to be a standout in Retail throughout the unprecedented adversity over the last 12 months and would recommend investors continue accumulating shares," the analyst wrote in a note.



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