Foot Locker price target lowered to $45 from $48 at BofA

BofA analyst Lorraine Hutchinson lowered the firm’s price target on Foot Locker to $45 from $48 and keeps a Neutral rating on the shares after the company hosted an investor day to lay out its "Lace Up Plan," which outlined financial targets through FY26. Remarking on the plan assumptions, BofA calls some "realistic," but adds that "some seem lofty." Consistent 3-4% comp growth "seems optimistic" and some of the margin expansion is contingent on leverage from the higher sales, "making it difficult to underwrite," the analyst added.