Foot Locker price target lowered to $18 from $26 at Citi

Citi lowered the firm’s price target on Foot Locker to $18 from $26 and keeps a Neutral rating on the shares. The company is in the “penalty box” post the Q2 report, the analyst tells investors in a research note. The firm says management’s visibility into the second half of 2023 is low with July comps decelerating. The stock will remain in the penalty box, particularly given the suspension of the dividend, says Citi.