Guggenheim lowered the firm’s price target on Foot Locker to $23 from $50 and keeps a Buy rating on the shares. The firm has reduced its FY23 and FY24 EPS estimates to $1.40 and $2.65 from $2.15 and $3.50, respectively, citing softer sales trends that continued well into August, including a weaker back-to-school start, as well as additional markdown pressures.
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Read More on FL:
- Foot Locker price target lowered to $22 from $36 at Telsey Advisory
- Foot Locker price target lowered to $30 from $45 at Evercore ISI
- Foot Locker price target lowered to $17 from $25 at Baird
- Foot Locker price target lowered to $18 from $26 at Citi
- Foot Locker price target lowered to $17 from $31 at Barclays