Foot Locker price target lowered to $27 from $31 at BofA

BofA analyst Lorraine Hutchinson lowered the firm’s price target on Foot Locker to $27 from $31 and keeps a Neutral rating on the shares. Foot Locker reported Q4 adjusted EPS that beat the firm’s and consensus expectations and a comp decline of 0.7% came in better than expected, but decelerated throughout the quarter, the analyst tells investors. The firm, which lowered its FY24 EPS view by 48c to $1.57, says 2024 “marks another year of elevated investments.”