Morgan Stanley lowered the firm’s price target on Foot Locker (FL) to $16 from $17 and keeps an Underweight rating on the shares. The company’s Q3 miss and FY guidance cut reinforces the firm’s skepticism around a potential turnaround and leaves more for the bears to point to, the analyst tells investors in a research note. The firm continues to see risk to full-year and mid-term street EPS, thus resulting in a lowered price target
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on FL:
- 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
- Foot Locker price target lowered to $22 from $26 at UBS