Foot Locker price target raised to $42 from $36 at Deutsche Bank

Deutsche Bank analyst Gabriella Carbone raised the firm’s price target on Foot Locker to $42 from $36 and keeps a Hold rating on the shares. During the company’s Investor Day yesterday, CEO Mary Dillion revealed the company’s "Lace Up" plan, which consists of the following four key pillars: expanding sneaker culture, powering up the company’s portfolio, deepening its relationship with customers, and offering a best-in-class experience, the analyst tells investors. FY23 is expected to be a transition year and these efforts will ultimately lead to sustainable growth in year FY24-FY26, with opportunities beyond for improvement, the firm says.