Barclays analyst Adrienne Yih lowered the firm’s price target on Foot Locker (FL) to $29 from $34 and keeps an Overweight rating on the shares. The company’s Q3 results missed across the board as trends softened throughout the quarter and promotions were elevated, the analyst tells investors in a research note. The firm says the fiscal 2024 guidance was cut for sales and earnings as ongoing promo usage is projected, but shifting towards footwear in Q4.
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Read More on FL:
- Foot Locker price target lowered to $16 from $17 at Morgan Stanley
- Foot Locker price target lowered to $24 from $30 at Telsey Advisory
- Foot Locker price target lowered to $20 from $21 at Williams Trading
- Foot Locker upgraded to Hold from Sell at Williams Trading
- Foot Locker price target lowered to $25 from $30 at BofA
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