Foot Locker price target lowered to $53 from $55 at BTIG

BTIG analyst Janine Stichter lowered the firm’s price target on Foot Locker to $53 from $55 and keeps a Buy rating on the shares. The company’s first investor day since 2019 showcased its "tremendous low-hanging fruit" but also highlighted its near-term uncertainty with 2023 outlook that is back-half weighted, the analyst tells investors in a research note. BTIG adds that Foot Locker’s management team showed well, but its FY26 targets require investors to underwrite sustained top-line growth.