Photo: AP Photo/Jin Lee
Good morning. Here’s your daily equity research roundup from the Street.Deutsche Bank:
- Foot Locker (FL): Analyst Paul Trussell is upgrading FL to Buy from Hold after the company beat on same store sales and margins, writing that “strength in the athletic footwear cycle combined with management’s track record gives us confidence that these impressive gains can continue.”
- ConocoPhillips (COP): Analyst Faisel Khan is upgrading COP to Buy from Neutral/High Risk and raising his target price to $67.00 from $52.11. Khan writes that his “view had been to remain Neutral until the company was split up given the lack of clarity on oil prices and spreads,” and that he sees the split up as “causing significant turnover in the shareholder base providing an opportunistic entry point” into the stock for investors.
- Gap (GPS): Analyst Barbara Wyckoff is upgrading GPS to Buy from Outperform and raising her price target to $36 from $31. She cites improved sales and a coming improvement in margins owing to the fact that there have been fewer blanket sales promotions across products this year.