Foot Locker upgraded to Outperform from In Line at Evercore ISI

Evercore ISI analyst Warren Cheng upgraded Foot Locker (FL) to Outperform from In Line with a price target of $60, up from $32. After Mary Dillon first joined in October, the firm was "intrigued with her self-awareness of the existential challenges Foot Locker faces" and at yesterday’s investor day the firm thought she and her team articulated a "thoughtful, credible vision," the analyst tells investors. That vision "leans into the things that Nike, adidas and Under Armour can’t do themselves as monobrands" and deepens Foot Locker’s unique moats as a retailer, the firm contends.