Foot Locker price target lowered to $30 from $45 at Evercore ISI

Evercore ISI lowered the firm’s price target on Foot Locker to $30 from $45 and keeps an Outperform rating on the shares. When the firm previously upgraded Foot Locker following the company’s March investor day, its upgrade was predicated on the post-transformation vision CEO Mary Dillon laid out, the analyst tells investors. While its view of “the viability and relevance of the future-state Foot Locker remains mostly unchanged,” the firm thinks that earnings remain vulnerable in the near-term due to Foot Locker’s “unique combination of a low-end customer base but relatively high price points” and it acknowledges “increasing urgency,” the analyst added.