Foot Locker price target lowered to $26 from $28 at Morgan Stanley

Morgan Stanley lowered the firm’s price target on Foot Locker to $26 from $28 and keeps an Equal Weight rating on the shares. Foot Locker’s “once-again disappointing” fiscal year guidance and elongated long-term profitability target path overshadowed a “decent” Q4, the analyst tells investors. The firm continues to struggle with a timeline and path to improved fundamentals along with what it calls an “expensive valuation,” the analyst added.