BofA analyst Lorraine Hutchinson lowered the firm’s price target on Foot Locker (FL) to $25 from $30 and keeps a Neutral rating on the shares. The firm, which is lowering its FY24 EPS view by 19% to $1.22 to reflect continued margin pressure in Q4, thinks the stock’s low multiple balances risks to the sales turnaround and margin recovery.
Don't Miss our Black Friday Offers:
- Unlock your investing potential with TipRanks Premium - Now At 40% OFF!
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on FL:
- Foot Locker price target lowered to $22 from $26 at UBS
- Foot Locker price target lowered to $28 from $34 at Guggenheim
- Foot Locker price target lowered to $24 from $27 at Baird
- Foot Locker Earnings: FL Flounders as Q3 2024 Earnings Miss Estimates
- Foot Locker Reports Q3 2024 Results and Updates Outlook
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
