Barclays analyst Adrienne Yih lowered the firm’s price target on Foot Locker (FL) to $29 from $34 and keeps an Overweight rating on the shares. The company’s Q3 results missed across the board as trends softened throughout the quarter and promotions were elevated, the analyst tells investors in a research note. The firm says the fiscal 2024 guidance was cut for sales and earnings as ongoing promo usage is projected, but shifting towards footwear in Q4.
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